MOSCOW: Russia's central bank has shifted its target exchange-rate corridor for the rouble by five kopecks, following market interventions to curb the pace of the currency's decline.
The new corridor extends from 35.05 to 42.05 roubles to the dollar-euro currency basket as of Feb. 24, compared to 35.00-42.00 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 41.55 against the basket at 0605 GMT.
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