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Russia's cbank shifts boundaries of rouble's floating corridor
January 9, 2014 / 6:01 AM / 4 years ago

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

MOSCOW, Jan 9 (Reuters) - Russia’s central bank shifted its target exchange-rate corridor for the rouble by five kopecks in a further move to curb the pace of the currency’s decline.

The new corridor extends from 33.10 to 40.10 roubles to the dollar-euro currency basket as of Dec. 31, compared to 33.05-40.05 previously, according to central bank data.

The bank shifted its target seven times in December 2013.

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. (Reporting by Vladimir Abramov; Writing by Alessandra Prentice, Editing by Timothy Heritage)

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