Russian for ex intervention hits record $3bn

The central bank of Russia spent a record $3 billion on Tuesday 10 February to hold down the ruble. The intervention represented the biggest foreign-exchange intervention in Russia's history.

The central bank took the unprecedented move when the ruble's exchange rate hit a three-year minimum level of 28.43 rubles against the dollar Tuesday. The high-level tone of activity was set early on the foreign-exchange market, when a number of commercial banks started offloading dollars in huge quantities

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Geoeconomic reserve management

The world order is evolving. Whether, and how, the international economy remains integrated or shifts into spheres of influence has consequences for central bank policy and reserve management.

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