I’m a few days behind on this as I’ve been busy with other parts of this website, but there have been a number of developments since my post last week regarding how Russia discusses its currency maneuvers. The specific language used here is VERY important, so bear with me as I get nitpicky.

First, the facts as reported by various news outlets whose links are embedded within each bullet point:

• Bank Rossii officials announced a plan to swap $10 billion worth of US Treasury holdings.for the equivalent in the proposed IMF bond issue expected in the fourth quarter of this year.

• Brazil and China also expressed interest in buying $10 billion and $50 billion, respectively, of IMF bonds.