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Russia's cbank shifts boundaries of rouble's floating corridor
January 20, 2014 / 6:11 AM / 4 years ago

Russia's cbank shifts boundaries of rouble's floating corridor

MOSCOW, Jan 20 (Reuters) - Russia’s central bank has shifted its target exchange-rate corridor for the rouble by five kopecks, following market interventions to curb the pace of the currency’s decline.

The new corridor extends from 33.30 to 40.30 roubles to the dollar-euro currency basket as of Jan. 17, compared to 33.25-40.25 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 38.96 against the basket at 0610 GMT. (Reporting by Lidia Kelly)

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