Bank of Russia sells $1.4 billion to prop up ruble
Central bank returns to forex market as ruble nosedives
The Bank of Russia has sold upwards of $1.4 billion on the foreign exchange market in the past week, as the ruble continues to fall in value against the US dollar and euro.
The central bank sold $980 million on October 3 and $420 million on October 6, and there is speculation it returned to the market again on October 7 to steady the currency.
The Bank of Russia operates with a 'managed float' exchange rate regime. It measures the strength of the ruble against a dual currency basket comprising
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