Russia’s central bank spends $76 billion propping up rouble

The Russian central bank’s net currency interventions in 2014 amounted to $76.13 billion and €5.41 billion, Interfax news agency reported on Monday, citing central bank data.

Interventions in the month of December amounted to $11.9 billion.

The bank intervened heavily last year as the rouble slumped because of international tensions over the Ukraine crisis and plummeting prices for oil,

Russia’s main export.

The Russian rouble opened more than 2 per cent lower against the dollar on Monday, dragged down by flagging oil prices.

Earlier, the rouble had recovered some of its losses to trade at 1.1 per cent lower against the dollar at 62.31 roubles and 3 per cent weaker against the euro at 74.41 .