Experts say, this CBR decision deprives speculators of baselines in the escort moto convoi exceptionnel currency market and will stabilize the exchange rate of the ruble against the dollar and euro in the short-term, tass reports.
So what is the reason?
The answer is in a way simple."Instead, we will intervene in the currency market at whichever moment and amount needed to decrease the speculative demand, the banks chairwoman, Elvira Nabiullina, said in an interview with Rossiya 24 Monday.Conversion Guide for Printing, from Euros (EUR) to Dollars (USD) 1 Euros 1,17 Dollars 5 Euros 5,83 Dollars 10 Euros 11,66 Dollars 50 Euros 58,29 Dollars 100 Euros 117 Dollars 500 Euros 5 Euros.1 Euros.80 Euros.60 Euros.287 Dollars, from Dollars (USD).The decision triggered a three-day plunge for the Russian currency.Effective starting November 10, 2014, the Bank of Russia abolished the acting exchange rate policy mechanism by cancelling the allowed range of the dual-currency basket ruble values (operational band) and regular interventions within and outside the borders of this band, the bank said."As a result of the decision the ruble exchange rate will be determined by market factors, which should promote efficiency of the monetary policy of the Bank of Russia and ensure price stability the central bank said.The managed float assumed the Central Bank didnt prevent movements in the ruble exchange rate caused by the influence of fundamental factors.On Monday, the ruble recovered slightly after Russian President Vladimir Putin assured speculative drops would cease in the near future.The Bank of Russia took another step towards a free float ruble by abolishing the dual currency soft peg, as well as automatic interventions.The rules were changed gradually club libertin nievre until foreign exchange interventions stopped today.Use our practical currency converter for conversions between, euros and (or conversely eUR BYR.EUR.7 BYR, belorussian Ruble (BYR) to Euro (EUR) 1 BYR 0 EUR 5 BYR 0 EUR 10 BYR 0 EUR 50 BYR 0 EUR 100 BYR 0 EUR 500 BYR BYR BYR 0 EUR, exchange rate development over last 30 months.In October alone, the bank was forced to spend 30 billion to defend the weakening ruble.The Russian ruble has weakened considerably along with dipping oil prices, as well as the introduction of western sanctions, which bars many Russian companies from long-term escort 75 anos a venda borrowing on western capital markets.Instead it smoothed out fluctuations by intervening in the currency band.Russia operated as soft peg currency band from 19 when it was replaced by a dual currency band of the euro and the dollar.Month, country, abbreviation, currency, rate per 1, reversed Exchange rate.12.2016 Belorussia BYR Ruble.108.4744 Exchange rate.11.2016 Belorussia BYR Ruble.085.4796 Exchange rate.10.2016 Belorussia BYR Ruble.149.4653 Exchange rate.9.2016 Belorussia BYR Ruble.18.4587 Exchange rate.8.2016 Belorussia BYR.Up-to-date Exchange Rate Belorussian Ruble, currency Converter - Euro to Ruble.Implementation of the Euro Currency.Russian Central Bank Chair Elvira Nabiullina (RIA Novosti/Alexander Astafyev) / RIA Novosti.
Then the ruble devalued by 40 percent and about a third of the countrys foreign exchange reserves was spent supporting.
Euro (EUR) to Belorussian Ruble (BYR).22 BYR.08 BYR.15 BYR 060.77 BYR 1121.53 BYR 50607.