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Russia sells off record $11.3 billion in foreign currency to prop up ruble
http://www.rawstory.com/rs/2014/03/05/russia-sells-off-record-11-3-billion-in-foreign-currency-to-prop-up-ruble/
Russia sells off record $11.3 billion in foreign currency to prop up ruble
By Agence France-Presse
Wednesday, March 5, 2014 7:01 EST
Russia sold a record $11.3 billion in foreign currency to support the ruble on March 3, the so called “Black Monday” when the ruble came under unprecedented pressure due to concerns about conflict in Ukraine, central bank data showed on Wednesday.
The Russian central bank sold foreign currency to buy rubles and prevent the Russian currency from falling further, after the market reacted with panic to parliamentary approval for President Vladimir Putin’s request to allow military action in Ukraine.
