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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.

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