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Russian Central Bank Spent $2.72 Billion to Defend Ruble

By The Moscow Times

The Central Bank also said Monday that it had shifted the ruble's trading band by 35 kopeks in the previous session, following market interventions to curb the pace of currency's decline.

As of Oct. 24, the ruble's new floating corridor extended from 38.05 to 47.05 against a dollar-euro basket, compared with 37.70 to 46.70 previously.

The Central Bank also said Monday that it had conducted 113.64 billion rubles' ($2.72 billion) worth of forex interventions to defend the ruble on Oct. 23.

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.

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