Russia's central bank spent around $6 billion in the past ten days to defend the country's currency ruble, the Central Bank of Russia Governor Elvira Nabiullina said Monday.
Speaking in the Duma, the lower house of Russia's parliament, Nabiullina said the central bank is currently supporting the exchange rate and selling funds from its reserves, the state-run news agency ITAR-Tass reported.
She also warned that attempts to fix the ruble exchange rate may backfire as it could lead to steeper one-time declines in the ruble that can hurt the economy.
The ruble is not currently in a complete free float and remains under the influence of market factors such as oil prices. The bank does not intend to stop its forex market interventions completely and will continue with them if there are risks to financial stability, the central banker added.
For comments and feedback contact: editorial@rttnews.com
Economic News
What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.
May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.