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Sberbank stake sale won't affect rouble - Cbank
September 17, 2012 / 10:03 AM / in 5 years

Sberbank stake sale won't affect rouble - Cbank

MOSCOW, Sept 17 (Reuters) - The sale of a $5 billion stake in Sberbank will not have an impact on the currency market and the funds raised will be channelled into the central bank’s reserves, Central Bank Deputy Chairman Sergei Shvetsov said on Monday.

“Foreign currencies that we will get, we will put into reserves,” Shvetsov told Reuters, adding that the sale will not affect the rouble.

The sale of a 7.6 percent stake in Sberbank has been held back for more than a year by shaky financial markets, but last week’s announcement of a new round of credit easing by the U.S. Federal Reserve opened the window to a placement. (Reporting by Zlata Garasyuta; Writing by Andrey Ostroukh; Editing by Douglas Busvine)

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