Russia presses ahead with fully floating the rouble - FT.com:
"The Bank of Russia pressed ahead with fully floating the rouble on Monday, a move that helped the currency to stabilise on the foreign exchange market as the central bank showed its determination to deter investors from betting against it.
The central bank abandoned the dual-currency trading band with which it had so far calculated the nominal exchange rate and ended a policy of daily foreign exchange interventions to prop up the rouble.
The decision, which came just days after the bank drastically limited its regular interventions, completes an early transition to a fully flexible exchange rate regime that had originally been planned for the end of the year."
'via Blog this'
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