24 Dec 2010 12:10

CBR sells $940 mln since start of Dec vs $5.6 bln in Nov - Ignatyev

MOSCOW. Dec 24 (Interfax) - The Central Bank of Russia has since this month began sold $940 million on the market versus the $5.6 billion it sold in November, Central Bank of Russia Chairman Sergei Ignatyev said at a State Duma plenary session on Friday.

"In the framework of the mechanism for a floating bicurrency-basket value corridor, the Central Bank sold $5.6 billion in foreign currency on the domestic market in November," Ignatyev said. The basket's value in November was its highest in eleven months, he noted.

At the start of this month, the situation turned gradually around and the basket's value began to slide. "The Central Bank bought currency only at the start of the month, and since December began has sold $940 million," Ignatyev said.