Central Bank sold $2.383 bln to stabilize exchange rate on Dec 12
MOSCOW. Dec 16 (Interfax) - The Central Bank of Russia sold $2.383 billion in order stabilize the exchange rate of the ruble on December 12, materials on the regulator's website said.
It was reported that the Central Bank sold $478 million on the forex market on December 11; $206 million on December 10; $348 million on December 9; $400 million December 8; $1.926 billion on December 5; $1.9 billion on December 3 and $700 million on December 1. Before this, the regulator had not conducted forex interventions since November 10, when it allowed the ruble to free float.
The Central Bank has sold $8.341 billion in the first two weeks of December.
When it put the ruble into free float, the Central Bank reserved the right to conduct ad hoc interventions "in the event of a threat to financial stability."
Central Bank Governor Elvira Nabiullina said in December 11 that the ruble ought to strengthen considerably next year in light of the growth in the price of oil that the Central Bank anticipates.