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CB of Russia Recent Interventions

This is a syndicated repost published with the permission of True Economics. To view original, click here. Opinions herein are not those of the Wall Street Examiner or Lee Adler. Reposting does not imply endorsement. The information presented is for educational or entertainment purposes and is not individual investment advice.

In 2014, Central Bank of Russia spent USD83 billion on currency interventions, against total drawdown of USD124 billion in foreign reserves held. At the end of 2014, CBR’s foreign currency reserves, including gold, were USD386 billion, down from USD510 billion at the beginning of 2014. As of December figures, Russian foreign exchange reserves rank 6th largest in the world, providing a cover for more than 15 months of imports at current running rate.

In first half of January, CBR spend some USD2.2 billion on currency markets interventions, issued foreign exchange repos for the amount of USD8.3 billion, with most of this (USD5.4 billion) in 28- and 365-day maturities.

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