Russia Spends $1.5 Billion in One Day as Ruble Defense Quickens

Russia’s central bank stepped up the pace of currency interventions as sanctions and an oil-price slump spurred bets policy makers will raise interest rates.

The central bank sold $1.5 billion on Oct. 8, according to data on its website today. That’s almost as much as the previous three days combined and the most for a single day since the $4.41 billion intervention that preceded the Crimea referendum to join Russia in March. Wagers for interest-rate increases soared to a six-year high as Brent oil’s slide to four-year lows sends the ruble falling further past 40 per dollar.