Support The Moscow Times!

Russia's Central Bank Shifts Boundaries of Floating Ruble Corridor by 10 Kopeks

A board with currency exchange rates is on display in Moscow.

The Central Bank said Tuesday that it had shifted the boundaries of its floating ruble corridor by 10 kopeks, following market interventions to curb the pace of the currency's decline.

As of Oct. 13, the new corridor extended from 36.35 to 45.35 against a dollar-euro basket, compared with 36.25 to 45.25 previously.

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

… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Once
Monthly
Annual
Continue
paiment methods
Not ready to support today?
Remind me later.

Read more