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Russia stopped daily forex sales on April 1
April 3, 2014 / 6:21 AM / 4 years ago

Russia stopped daily forex sales on April 1

MOSCOW, April 3 (Reuters) - Russia’s central bank said on Thursday it did not sell foreign currency on the market on April 1, the first time in five months.

The Russian central bank sells foreign currency to support the rouble when the rouble is within 1.95 roubles of the edge of a floating corridor against a dollar-euro basket, which has stretched from 36.25 to 43.25 roubles since March 28.

The absence of market interventions indicated that the rouble had strengthened to the non-intervention range near the middle of the corridor.

At 0615 GMT on Thursday the rouble was trading at 41.50 against the basket, within the range where the central bank sells $200 million a day to support the rouble. (Reporting By Jason Bush, editing by Elizabeth Piper)

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