Russian Central Bank boosts forex market interventions 30% in Aug
MOSCOW. Sept 3 (Interfax) - The Central Bank of Russia sold $5.456 billion and EUR475.6 million on the domestic currency market in August, up 30% and 26% from $4.183 billion and EUR376.54 million, respectively, in July, the CBR said on its website.
The CBR said $3.055 billion and EUR296.5 million of the August interventions were planned.
The Central Bank started to sell currency in April after a four-month pause. It bought currency in small quantities in January and February.
The August sales were the biggest since September 2011, when the CBR sold $6.77 billion and EUR590.9 million.
The CBR shifted its target exchange-rate corridor by 5 kopecks on six occasions in August. The Central Bank increases currency market interventions once the ruble nears the corridor's boundary. The corridor is shifted when an intervention allotment of $450 million is used up.