Bank of Russia sells $1bn in one day

US dollars to be swept out of Russia.

On January 27, the Bank of Russia entered the currency market with interventions, and its sales amounted to one billion dollars.

According to experts, the Central Bank began to actively intervene in currency trading from the beginning of yesterday’s trading session. According to currency dealers, the national regulator launched unlimited accumulation interventions. In connection with the intervention of the Bank of Russia, the trading volume of U.S. currency with “tomorrow” made up $7.5 billion, twice the average volume in December.

This week, the dollar and the euro rose sharply in Russia. Russian authorities deny accusations of deliberate devaluation of the ruble. Economic Development Minister Alexei Ulyukaev said that the weakening of the ruble was a “working point” that fitted well into the global trend, characteristic of developing countries.

Elvira Nabiullina, the head of the Central Bank, said January 27 that it was not the ruble that was losing value, but the euro and the dollar were growing against the currencies of developing countries.

(Via Pravda.Ru)

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