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Russia to halt targeted daily currency interventions

Posted on 14 January 2014

Russia’s central bank is to cease daily targeted interventions in foreign exchange markets, allowing for a more flexible exchange rate as the central bank moves towards a free float of the currency by the end of the year.
The rouble fell 0.9 per cent at 33.3050 to the dollar and slipped 0.4 per cent against the central bank’s dollar-euro basket after the announcement, which investors took as a signal that the authorities would welcome a further weakening in the exchange rate………………………………………..Full Article: Source


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