Russian central bank Chairman Ignatiev said today that the Russian central bank (CBR) is sticking to the managed float exchange rate system. According to the CBR, the new upper boundary is basket/RUB 41- 10% higher than today's level around basket/RUB 37. Some watchers had been speculating that the CBR would announce a more significant change in FX policy - such as a move to a free float.
Flash Comment
Russia: CBR sticks to managed float but widens corridor
Thu, Jan 22 2009, 17:37 GMT
by
Lars Rasmussen
- Danske Bank A/S
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