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 10 kopecks, following market interventions to curb the pace of the currency's decline.

The new corridor extends from 34.40 to 41.40 roubles to the central bank's dollar-euro currency basket as of Feb.4, compared to 34.30-41.30 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 40.60 against the basket at 0610 GMT.