Russian traders - sold up to $10 bln to support rouble on Monday

by Reuters
Monday, 3 March 2014 11:02 GMT

MOSCOW, March 3 (Reuters) - Russia's central bank sold up to $10 billion, or 2 percent of its gold and foreign exchange reserves, to stem the rouble's fall on Monday, Moscow foreign exchange dealers estimated.

"There have been some $11 billion (of foreign currency) sold today, some $10 billion came from the central bank," said Mikhail Paley, a dealer at VTB Capital.

"There is no one aside from the central bank selling (forex) today," said a dealer at a large Western bank, adding that the central bank sold "up to $10 billion."

The central bank releases its interventions in foreign exchange markets only with a two-day lag.

At 1050 GMT the rouble was trading 2.1 percent down against the dollar on the day at 36.49.

The central bank's reserves stood at $493.4 billion, according to the latest data. (Reporting by Lidia Kelly and Vladimir Abramov; Writing by Lidia Kelly; Editing by Hugh Lawson)

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