Russia accelerates sale of foreign currencies ...News

Russia Today - Economy
Russia accelerates sale of foreign currencies
source : Russia Today ( News ) () 26
The central bank needs to pay off Eurobonds maturing later this month The Bank of Russia announced on Wednesday that it will increase the planned sale of foreign currency on the domestic market to 150 billion rubles ($1.5 billion), citing the need to repay government-issued Eurobonds.  According to a press release, the almost tenfold increase in the central bank’s daily “mirroring operations” is linked to investments from the government’s wealth fund. It now plans to sell $218 million worth of foreign currency per day from September 14 to 22. Russia is due to make a $3 billion Eurobond payment on September 16, the

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