Central Bank increases currency market interventions 70% in November
MOSCOW. Dec 20 (Interfax) - The Central Bank of Russia sold $3.328 billion and EUR284 million on the domestic currency market in November, the Central Bank said on its website.
The Central Bank sold $1.909 billion and EUR172 million in October, so the November interventions were up 74% in dollars and 65% in euro.
Planned interventions accounted for $1.024 billion and EUR87 million (respectively 20% and 24% less than in October).
The Central Bank started to sell currency in April after a four-month pause. It bought currency in small quantities in January and February. November was the eighth month in a row that the Central Bank was a net seller of forex on the market.
In those months it sold $21.662 billion and EUR1.832 billion.
Planned interventions are aimed primarily at neutralizing the expectations of forex market participants regarding changes in the ruble's exchange rate based on economic conditions abroad. The CBR determines the amount of the interventions by considering energy prices on global markets.
