Russia’s cbank shifts boundaries of rouble’s floating corridor

Russia’s central bank shifted its target exchange-rate corridor for the rouble by five kopecks in a further move to curb the pace of the currency’s decline.

The new corridor extends from 33.10 to 40.10 roubles to the dollar-euro currency basket as of Dec. 31, compared to 33.05-40.05 previously, according to central bank data.

The bank shifted its target seven times in December 2013.

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.