3 Jul 2015 13:21

Central Bank purchased $6.36 bln in FX in May-June to replenish reserves

MOSCOW. July 3 (Interfax) - The Central Bank of Russia purchased $6.36 billion in FX on the domestic market in May-June to replenish international reserves, according to Central Bank data.

It purchased $2.5 billion in May and $3.8 billion in June.

In June, the Central Bank said that one of its near-term goals is to boost international reserves to a level sufficient to cover capital outflows over the course of two-three years. The Central Bank estimates that $500 billion is a comfortable level for reserves. In order to attain that level, it has been buying $100 million-$200 million a day since mid-May. The Central Bank expects the international reserves to attain the $500-billion level in five-seven years.