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Russia sells $10bn in reserves to prop up rouble

Russia has sold $10bn in currency reserves to support the rouble amid the crisis in the Ukraine.

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Central bank sells $10bn reserves to prop up rouble

A man counts his roubles in Borki, some 220 km (137 miles) southwest of Minsk. Credit: 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, Moscow exchange dealers have 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

The central bank's reserves stood at $493.4 billion, according to the latest data.

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