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Russia's cbank shifts boundaries of rouble's floating corridor
March 17, 2014 / 6:20 AM / 4 years ago

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

MOSCOW, March 17 (Reuters) - Russia’s central bank has shifted its target exchange-rate corridor for the rouble by 15 kopecks, following market interventions to curb the pace of the currency’s decline.

The new corridor extends from 36.10-43.10 roubles to the dollar-euro currency basket RUS=MCX as of March 14, compared to 35.95-42.95 previously.

Under its managed float, the central bank increases its interventions as the rouble approaches the boundary of the corridor. Since March 3, the central bank decides the allotment needed to be exhausted before shifting the corridor on a daily basis. On Monday, it said the allotment stood at $1.5 billion as of March 14.

The rouble was trading at 43.06 against the basket at 0615 GMT.

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