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Russian cbank moves rouble floating corridor
January 24, 2014 / 6:32 AM / 4 years ago

Russian cbank moves rouble floating corridor

MOSCOW, Jan 24 (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 33.45 to 40.45 roubles to the dollar-euro currency basket as of Jan. 23, compared to 33.40-40.40 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 39.92 against the basket at 0625 GMT. (Reporting By Jason Bush; Editing by Lidia Kelly)

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