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12.02.2013
the current monetary policy stance. Taking into account the substantial increase of exchange rate flexibility as well as external and internal macroeconomic trends the necessity
In Japan, this move was prompted by the need to restrain the
exchange rate of the Japanese yen to the US dollar (Chart 4). The
Official Exchange Rate of US Dollar Against Ruble* .......................................................................... 80
2.18 Official Exchange Rate of Euro Against Ruble* ................................................................................ 82
2.19 Official Exchange Rate: Rubles
efficient
and uninterrupted functioning of the payment system), and to smooth rouble exchange rate
fluctuations, facilitating effective monetary transmission. This may explain the Bank of
2015
the exchange rate in its exchange rate policy and competitive environment in the banking sector
to switch to a floating exchange rate by 2015.
Official Exchange Rate of US Dollar Against Ruble* .......................................................................... 80
2.18 Official Exchange Rate of Euro Against Ruble* ................................................................................ 82
2.19 Official Exchange Rate: Rubles
Official Exchange Rate of US Dollar Against Ruble* .......................................................................... 80
2.18 Official Exchange Rate of Euro Against Ruble* ................................................................................ 82
2.19 Official Exchange Rate: Rubles
currency exchange
rate differences, whereas the total excess of the negative realised exchange rate differences from
foreign exchange operations over the positive realised exchange rate
Official Exchange Rate of US Dollar Against Ruble* .......................................................................... 80
2.18 Official Exchange Rate of Euro Against Ruble* ................................................................................ 82
2.19 Official Exchange Rate: Rubles
Russia exchange rate policy in 2011 re-
During the reporting period, the prices of most com- mained in line with the managed floating exchange rate