• The Central Bank refused to support the ruble

  • The Central Bank of Russia on June 24, refused currency interventions in support of the ruble. The ongoing break was the highest since 2008, writing in Friday, September 12 "Izvestia" with reference to statistics published on the website of the Central Bank.

    Thus, the Central Bank released the ruble before the planned deadline of 2015. Such a step, according to analysts, the financial regulator was forced to go drop the volume of gold and foreign currency reserves, which have declined since the beginning of 2014 with 509 billion dollars to 465,2 billion. To smooth fluctuations of the ruble, the Central Bank typically spent up to $ 200 million per day, and on March 4, after the aggravation of the situation in Ukraine sold within the monetary interventions record of 11.3 billion dollars.

    The press service of the Central Bank confirmed the absence of currency interventions, noting that the transition to the floating exchange rate is scheduled in 2015. While the Central Bank stressed that the intervention will be resumed only in the case of a sharp exchange rate fluctuations that threaten financial stability.

    From the beginning of 2014, the Central Bank 42 times has expanded the limits of the currency corridor, the lower level of which is now set at 35.4 ruble, and the top - level 44.4 ruble. 11 September on the eve of the introduction of new sanctions against Russia with the European Union, the dollar reached 37,51 ruble, thereby updating the historical maximum. The Euro was 48,44 ruble. The bi-currency basket, calculated on the last deal, grew during the trading session on 32 pennies to 42,49 ruble.


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