Russian cbank raises currency bracket by 5 kopecks to 33.10–40.10 Dec 31

MOSCOW, Jan 9 (PRIME) -- Russia’s central bank again widened both ends of the floating corridor of the dual-currency basket, comprising U.S. $0.55 and 0.45 euros, by 5 kopecks to 33.10–40.10 rubles from December 31, 2013, according to the regulator’s statement released Thursday.

The central bank announces changes to the trading band on the next working day after they are introduced.

The regulator uses the ruble value of the dual-currency basket as a guideline for the currency rate.

The boundaries of the corridor are automatically revised by 5 kopecks when accumulated currency interventions reach U.S. $350 million.

The central bank has moved the boundaries of the dual-currency basket corridor more than 10 times upward by 5 kopecks from 31.70–38.70 rubles as of June 30, 2013.

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