CBR sells record amount of currency
On April 21, the Central Bank of the Russian Federation set a new record for selling US dollars on the domestic market to support the ruble exchange rate. In total, the Central Bank sold $ 255 million per day, gaining 19.2 billion rubles for them.
Due to such emergency actions, the Central Bank was able to keep the ruble below 78 per dollar, despite the collapse of the oil market below $ 20 per barrel of Brent brand.
It is noted that the Central Bank sells currency under the budget rule to compensate for lost revenue due to the cheapening of oil. The budget for the current year includes the price for a barrel of Urals brand of $ 42.4, at the time of writing the news it is equal to $ 21.4.