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In June 2012 the Central bank of Russia has sold $2.207 billion, reports the central Bank. That has become maximum net-sale since the start of the year. The Bank has also sold 173.11 million of Euro.
In may, on the contrary, the bank was buying the foreign currency, what amounted in $1.24 billion and 99.45 Euro.
The change in the intervention policy is explained by fluctuation in exchange in the market. The US dollar was falling to the Rubles rate up to the April, so the Central Bank was buying dollar. As soon as the US dollar started growing the Bank started selling out dollar.
Author: Irina Fomina
