Bank Rossii, Russia’s central bank, changed vigorously the earlier set level of its floating ruble corridor. It seems rather usual, the only fact that may be odd, it happens for the fifth time in the first two autumn months. The recent shift of the boundaries occurred on November 5. Now the central bank shifted the limits of the bi-currency basket by 5 kopeks up. After that the currency corridor became 32.40 – 39.40 rubles. It is commonplace for the market participants. It should be mentioned that in September the central bank has shifted up the boundaries of the currency corridor for three times, on September 4, 11, and 30. It happened just once in October, on October 9. For three summer months the boundaries were moved for eight times, including five times in August. It should be mentioned early this year the following limits were set at the level of 31.65 and 38.65 rubles. The amount of cumulative investments was lowered to $400 million in September compared to $450 million previously. The price of the ruble of the bi-currency basket is used as a landmark of the exchange rate policy. Upper limits are automatically corrected by 5 kopeks when the stated volume of interventions is reached, i.e. $400 million. Bank Rossii plans to leave exchange rate policy unchanged, which may influence the national currency rate dynamics. Meanwhile, the regulator will promote the increased flexibility of the ruble’s rate formation.
