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

Read more

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.