Trading
RUSSIA ALLOWS FREE FLOAT OF RUBLE IN MARKETS
MOSCOW (AP) – Russia’s central bank says it is scrapping daily controls on the value of the ruble, allowing the weakening currency to trade freely in financial markets.
The bank said that effective Monday it will stop setting daily limits for the ruble’s fluctuations and will not have any obligation to intervene in markets to support the currency, which has lost nearly half its value against the dollar this year.
The bank added it will stand ready to intervene if necessary to fend off “threats to financial stability.”
The ruble has nosedived in recent months amid the financial uncertainty created by Western sanctions over the Ukrainian crisis, and, more recently, a plunge in oil prices.
-
Business3 days ago
docStribute appoints ex-Group CIO of Newcastle Building Society as Non-Executive Director
-
Technology4 days ago
How to Use AI to Optimize Customer Relationships
-
Business4 days ago
What Every Small Nonprofit Needs to Know About Form 990-N
-
Finance4 days ago
stc Bahrain and Aleph Zero Partner to Advance Blockchain DePIN Across the Gulf Region