20 Jun 2014 14:44

Central Bank spent $40 bln on interventions in H1 - Nabiullina

MOSCOW. June 20 (Interfax) - The Central Bank of Russia spent $40 billion on currency interventions during the first half of the year, Central Bank chief Elvira Nabiullina said at a State Duma session.

"The cost of interventions in 2013 amounted to $27 billion. In January-June due to increased uncertainty, the bank spent more than $40 billion on interventions," she said.

Nabiullina said that the interventions were not carried out in order to keep the exchange rate at a certain point, but in order to control sudden fluctuations that could threaten the financial system's stability.