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Russian central bank confirms increased involvement on FX market
Russian central bank confirmed on Monday that is has increased its involvement in the foreign currency market after the rouble plummeted and said it will continue on its path to shift its main monetary policy focus to inflation targeting after situation on markets stabilises. Traders estimated the central bank sold in excess of $10 billion on Monday to prop up the rouble, which traded at all-time lows against the dollar and the euro. The rouble closed 2.2 percent down versus the dollar. "In connection with the non-standard situation, the central bank has increased on March 3 its presence on the foreign exchange ... (full story)
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