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Russia's cbank shifts boundaries of rouble's floating corridor
February 14, 2014 / 6:11 AM / in 4 years

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

MOSCOW, Feb 14 (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 34.60-41.60 roubles to the dollar-euro currency basket as of Feb. 13, compared to 34.55-41.55 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 41.04 against the basket at 0605 GMT. (Reporting by Vladimir Abramov; Writing by Lidia Kelly, editing by Elizabeth Piper)

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