Source Pravda.Ru

Central Bank Conducts $200M Intervention On Currency Market Today

The Russian Central Bank was actively selling dollars at the morning trade today, a banking trader noted in an interview with RBC. He estimated the volume of the Central Bank's intervention at no less than $200 million. This was more than two thirds of the total volume at the unified trade that reached almost $285m. Taking into account the fact that the Central Bank has been conducting currency interventions for the third day in a row, the expert concluded that these policies would lead to a noticeable reduction in the bank's gold and currency reserves. According to various estimates, the Central Bank sold from $500 to 800 million from Wednesday to Friday this week.