In a further attempt to buoy the Russian rouble’s value, the Russian Central Bank has revealed a further injection of 95.33 billion roubles in seven day funds offered at 12%. The funds were introduced to the banking system on 24 February in a repo auction.

This latest support follows an 182,63 billion-rouble injection made on 17 February. These were offered at 11.94% and a maximum 200 billion roubles was available.

Early trading on 24 February showed the rouble was valued at 36.0254 up from 36.07660. The weighted average for settlement against the Euro on 24 February is set at 45.9237, down from 45.4142 on the last settlement.

At close on Friday 20 February, the rouble firmed to 40.46, compared to 40.49 against at the central Bank’s basket of 0.55 dollars and 0.45 euros.