Support The Moscow Times!

Russia Central Bank Spends $2.12 Billion to Boost Ruble

The ruble has been sliding on falling oil prices and broad risk aversion towards Russia because of its role in the Ukraine crisis.

Russia's Central Bank said Monday that it had conducted 86.83 billion rubles ($2.12 billion) worth of forex interventions to defend the ruble on Oct. 16.

The Central Bank releases its interventions data with a time lag. The ruble has been sliding on falling oil prices and broad risk aversion towards Russia because of its role in the Ukraine crisis.

The Central Bank also said Monday that it had shifted the boundaries of its floating ruble corridor by 5 kopeks, following market interventions to curb the pace of the currency's decline.

As of Oct. 17, the new corridor extended from 37.30 to 46.30 against a dollar-euro basket, compared to 37.25 to 46.25 previously.

Sign up for our free weekly newsletter

Our weekly newsletter contains a hand-picked selection of news, features, analysis and more from The Moscow Times. You will receive it in your mailbox every Friday. Never miss the latest news from Russia. Preview
Subscribers agree to the Privacy Policy

A Message from The Moscow Times:

Dear readers,

We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."

These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.

We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.

By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.

Once
Monthly
Annual
Continue
paiment methods
Not ready to support today?
Remind me later.

Read more