The Russian Ministry of Finance of Russia announced the sale of up to 7,000 billion of its foreign reserves to prop up the ruble.
Russia announced the sale of up to 7,000 billion of its foreign reserves to prop up the ruble whose fall has motivated and dramas as suicides, or Apple stop selling their products online.
Ministry Russian Finance announced his decision in a statement where he also set his certainty that the ruble is “extremely undervalued”.
Meanwhile the Bank of Russia said that on Monday intervened in the foreign exchange market sales of 1.961 million dollars.
In the market of Moscow changes the Russian currency opened at 70.50 per dollar and 90.15 per euro, but after the first operations recorded a rise and began to change to 67.11 per dollar and 83.82 per euro, Sputnik news reported.
The Russian currency was trading on January 1 to 32.90 per dollar spent, and the day was at 79.17, a difference of 140% according to Russia Today.
According to the same source, the total reserves amounted to December 1 418,000 million, 100,000 million less than a year ago.
It is estimated that at the end of this year has left the Russian economy 120,000 million, similar to the output recorded in the 2008 crisis number.
The nervousness in the markets and exchange prompted Russian businessman Ivan Shervashidze , he committed suicide at the National Hotel in the Russian capital, according to a note left in the room occupied.
Police investigate suicide, which occurred the night of Tuesday in the Moscow hotel five star, who sold musical instruments and related equipment, plus it was the owner of a financial firm.
The imbalances in the Russian economy caused by the combination of low oil and penalties Moscow support for the Ukrainian separatists have generated panic among companies operating in foreign currency, they fear going broke.
Meanwhile, the technology company Apple reported that suspended the sale of their products online Russia, before the drastic fluctuation of the ruble, which affects iPhones, iPads and its range of products.
A similar decision was taken by exporting wheat produced in Russia, who announced Wednesday that suspended signing contracts with the depreciation of the ruble, a decision that affects their contracts for next February.
The deputy head of Marketing Rusagrotrans, Igor Pavenski, said that both exporters and importers expect to be clarify the exchange situation, said a law Itar Tass.
According to data Rusagrotrans grain exports from Russia in July last November totaled 18.3 million tons, 30% more than in the same period 2013.
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