2023-10-09 16:20:06
Russia’s central bank downplayed the ruble’s weakness on Monday, saying an increase in foreign currency sales by exporters to $9.2 billion in September, from $7.2 billion in August, was one of factors having limited the monthly decline of the currency to 2%.
In a financial stability review, the bank said no significant volatility in the ruble was observed in September, thanks to its own foreign exchange sales and the increase in its interest rate to 13%.
However, the bank said foreign currency purchases by non-residents of countries Russia considers “friendly” reached a record 156 billion rubles ($1.56 billion) in September, up from 69 billion rubles the previous month.
On Monday, the ruble fell to its lowest level in more than 18 months, before recovering.
(1 $ = 99,7468 roubles)
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