La Central Bank of Russia it sold foreign currencies equivalent to $11,3 billion on Monday, a record, to prop up the ruble, which is under massive downward pressure following the Ukrainian conflict. This was revealed by the figures published today by the central institute.
Monday was a black day for the ruble, which dropped below 50 per euro and per dollar to its lowest since 2008, on the wave of news that on Saturday Vladimir Putin had obtained the go-ahead from the Russian parliament for an armed intervention in Ukraine.
Yesterday, as tensions over Ukraine eased, the Russian currency rallied sharply, along with the Moscow stock exchange.
