Central Bank plans to let the ruble in swimming

Banks Finansy29-05-2009 the Central Bank plans to let the ruble into a swimming Central Bank of Russia plans to move to a regime of free floating exchange rate. Experts say the historical inevitability of this move. Many countries it has helped build a strong economy. Now, however, not the best "free float" time. In the coming years, the Russian currency market is better to remain hostage to the Bank of Russia, are sure of our interlocutors. The Bank of Russia plans to move to a regime of free floating ruble exchange rate, restricting the upper limit of the currency basket at 41 rubles., Said on Thursday the Bank of Russia chairman Sergey Ignatiev at the XVIII International Banking Congress (IBC) in St. Petersburg. "Now, in order to limit volatility in the ruble exchange rate, the Bank of Russia conducts sufficiently massive currency intervention to buy foreign currency on the foreign exchange market. Total from 1 February to 25 May, we purchased more than $ 30 billion "- said Ignatieff. Recall under the volatility usually implies a measure of volatility of the market price of an asset at a specified time period, that is, "how often changes the value of the asset."