News Column

Russian central bank shifts boundaries of rouble’s floating corridor

February 17, 2014

MOSCOW, 17 Feb: Russias central bank has shifted its target exchange-rate corridor for the rouble by five kopecks, following market interventions to curb the pace of the currencys decline.

The new corridor extends from 34.65 to 41.65 roubles to the dollar-euro currency basket as of Feb. 14, compared to 34.60-41.60 previously.

Under its managed float, the central bank increases its interventions as the rouble approaches the boundary of the corridor. Once an intervention allotment of $350 million is exhausted it automatically shifts the corridor.

The rouble was trading at 41.06 against the basket at 0610 GMT.

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Source: Daily Messenger (Pakistan)

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