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Russia’s Finance Ministry sells $1.3 billion amid ruble slump

January 13, 2015, 12:32 UTC+3 MOSCOW
The Russian ruble on Tuesday hit its lowest against the US dollar and the euro since December amid continued decrease in world oil prices
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© TASS/Sergei Konkov

MOSCOW, January 13. /TASS/. Russia’s Finance Ministry sold $1.323 billion on the domestic currency market through the Central Bank of Russia on Monday, the regulator said on Tuesday.

The Bank of Russia did not however intervene in the currency market with foreign exchange sales on Monday, the regulator said.

Russia’s Finance Ministry announced in mid-December after the ruble’s slump to historical lows it would start selling the remainder of foreign currency funds from the Treasury to ease pressure on the ruble amid western sanctions and falling world oil prices and prop up the national currency.

The Russian ruble on Tuesday hit its lowest against the US dollar and the euro since December amid continued decrease in world oil prices.

The price of Brent crude fell by 4.3% on the Intercontinental Exchange (ICE) in London on Tuesday to $45.39 per barrel while WTI dropped by 3.39% to $44.52 per barrel by 07:50 GMT, hitting their lows since the spring of 2009.

Infographics Oil prices over 30 years Oil prices over 30 years
Year-average inflation-adjusted oil price. Infographics by TASS

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