News Column

Russia CB Widens Ruble Exchange Rate Corridor

August 18, 2014

MOSCOW (Alliance News) - Russia's central bank increased its ruble exchange rate corridor in order to improve flexibility, the bank said in a statement on Monday.

The bank widened the trading band to 9 rubles from 7 rubles and reduced the threshold needed to intervene for moving the corridor against the dollar-euro basket by 5 kopecks to USD350 million from USD1 billion.

The latest decision will not have a significant effect on the current dynamics of the ruble as it is trading in the neutral zone, the bank said.

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Source: Alliance News

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