Russia's Central Bank Shifts Boundaries of Floating Ruble by 25 Kopecks

A chain is seen wrapped around a road sign for parking, with the coat of arms of the Central Bank seen on it, near the headquarters of the bank in central Moscow.

Russia's Central Bank said on Monday it had shifted the boundaries of its floating ruble corridor by 25 kopecks, following market interventions to curb the pace of the currency's decline.

As of Oct. 10, the new corridor extended from 36.25 to 45.25 against a dollar-euro basket, compared with 36.00 to 45.00 previously.

The Central Bank automatically intervenes to defend the ruble once it crosses the boundaries of its trading band. Once it has spent $350 million defending the currency, it moves the band by 5 kopecks.

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