‘Russian central bank sold up to $10 bln to support rouble’Comment on this story
Moscow - Russia's central bank sold up to $10 billion, or 2 percent of its gold and foreign exchange reserves, to stem the rouble's fall on Monday, Moscow foreign exchange dealers estimated.
“There have been some $11 billion (of foreign currency) sold today, some $10 billion came from the central bank,” said Mikhail Paley, a dealer at VTB Capital.
“There is no one aside from the central bank selling (forex) today,” said a dealer at a large Western bank, adding that the central bank sold “up to $10 billion.”
The central bank releases its interventions in foreign exchange markets only with a two-day lag.
At 12:50 SA time the rouble was trading 2.1 percent down against the dollar on the day at 36.49.
The central bank's reserves stood at $493.4 billion, according to the latest data. - Reuters