Russia's central bank shifts boundaries of rouble's floating corridor

MOSCOW: Russia's central bank has shifted its target exchange-rate corridor for the rouble by five kopecks for the fourth time this month, following market interventions to curb the pace of the currency's decline.

The new corridor extends from 32.90 to 39.90 roubles to the dollar-euro currency basket as of Dec. 16, compared to 32.85-39.85 previously.

Under its managed float, the central bank increases its interventions as the rouble approaches the boundary of the corridor.

Once an intervention allotment of $350 million is exhausted it automatically shifts the corridor.

The rouble was trading at 38.47 against the basket at 0605 GMT.