Russia Central Bank Shifts Trading Band by 35 Kopeks

By The Moscow Times

Oct. 28, 2014

Russia's Central Bank said Tuesday that it had conducted 102.3 billion rubles' ($2.42 billion) worth of forex interventions to defend the ruble on Oct. 24. The Central Bank releases its interventions data with a time lag. The ruble has been sliding on falling oil prices and broad risk aversion toward Russia because of its role in the Ukraine crisis.

Russia's Central Bank also said Tuesday that it had shifted the ruble's trading band by 35 kopeks a day earlier, following market interventions to curb the pace of currency's decline.

As of Oct. 27, the ruble's new floating corridor extended from 38.40 to 47.40 against a dollar-euro basket, compared with 38.05 to 47.05 previously.

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