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Bank of Russia bought $6.4 bln in May-June to replenish international reserves

July 03, 2015, 12:44 UTC+3 MOSCOW
As TASS reported earlier, the Russian Central Bank decided from May 13, 2015 to purchase foreign currency on the domestic foreign exchange market on a daily basis in the amount of $100-200 mln
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© Anton Novoderezhkin/TASS

MOSCOW, July 3. /TASS/. The Russian Central Bank bought foreign currency on the domestic exchange market for $6.4 bln in May-June 2015 to replenish international reserves, the regulator said on its official website on Friday.

The Central Bank bought $2.5 bln in May and $3.8 in June 2015.

As TASS reported earlier, the Russian Central Bank decided from May 13, 2015  to regularly purchase foreign currency on the domestic foreign exchange market in order to replenish international reserves. This decision was made taking into account the normalization of the situation in the domestic foreign exchange market and is not aimed at maintaining a certain level of the exchange rate, the Central Bank said. Operations will be carried out on a daily basis in the amount of $100-200 mln.

To minimize the impact on the dynamics of the exchange rate the purchases will be made uniformly throughout the trading day. At the same time in the case significant changes in the foreign exchange market occur, transaction volume can be adjusted, the Central Bank said.

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