Russian Central Bank spent $58 billion backing Ruble (Update1)
November 19, 2008 at 07:36 AM EST
[Skip to the end] Russian Central Bank Spent $58 Billion Backing Ruble (Update1) By Alex Nicholson and Maria Levitov Nov. 19 (Bloomberg) — Russia’s central bank spent $57.5 billion defending the ruble in September and October, Chairman Sergey Ignatiev said. Why would they ‘defend’ the ruble? Maybe they ‘defend’ it selectively, via transactions with ‘insiders’ moving from [...]
