Russia CB widens ruble exchange rate corridor
2014-08-19 09:57:26
Russia's central bank increased its ruble exchange rate corridor in order to improve flexibility, the bank said in a statement on Monday.
The bank widened the trading band to 9 rubles from 7 rubles and reduced the threshold needed to intervene for moving the corridor against the dollar-euro basket by 5 kopecks to $350 million from $1 billion.
The latest decision will not have a significant effect on the current dynamics of the ruble as it is trading in the neutral zone, the bank said.