Central Bank bought 200 mln in total on currency market July 6
MOSCOW. July 8 (Interfax) - The Central Bank of Russia purchased a total of $200 million, or 11.3 bln rubles, on the currency market on July 6, the regulator said in information, posted on its website.
The Central Bank bought a total of $400 million on July 2-3 and $200 million on July 1.
The regulator bought $200 million in June each day, except June 1 and June 8, when Central Bank bought $150 million per day.
The regulator did not purchase any FX on the domestic currency exchange to replenish international reserves on June 5 due to rising volatility on the market, a Central Bank spokesman told Interfax.
The Central Bank reported on May 13, 2015 that it would regularly buy $100 million-$200 million on the domestic market each day to replenish international reserves. "To minimize the impact on ruble exchange rate dynamics, FX purchases will be carried out evenly during the trading day. In case any substantial changes occur in the FX market, the volumes of the operations may be adjusted," the Central Bank said.
Central Bank Governor Elvira Nabiullina said on June 4 that "a very comfortable" level for the international reserves was $500 billion. Nabiullina said that the accumulation of reserves should be carried out gradually, only in such a way that would not contradict the main goal of monetary policy, namely the reduction of inflation in the medium term to 4%.