Russia’s Central Bank sells foreign currency for 18.8B rubles

On the second day of announced foreign exchange interventions, February 25, the Bank of Russia (Central Bank) sold foreign currency on the market for 18.8 billion rubles, Report informs referring to the regulator’s message.

For these transactions, deals with settlements "tomorrow", that is, on the next trading day, are used. Therefore, the data on transactions for February 25 became known only on March 1.

The Central Bank announced the decision to start foreign exchange interventions on February 24, stating the need to stabilize the situation on the financial market against the backdrop of geopolitical aggravation. On that day, foreign currency was sold for 84.8 billion rubles.

February 25 was the second and final day of interventions. Chairperson of the Bank of Russia Elvira Nabiullina announced on February 28 that the regulator no longer carried out foreign exchange interventions that day due to sanctions that limited its ability to use gold and foreign exchange reserves.