Russia's Ignatiev signals loosening of rouble peg

The head of Russia's central bank on Monday indicated Moscow could loosen its grip on its exchange rate regime.

Sergey Ignatiev, the chairman of the Central Bank of the Russian Federation, said at a televised press conference that the institution may have to increase the "flexibility" of the rouble's value "with some tendency towards weakening against some foreign currencies in current conditions."

Ignatiev's comments come after the central bank spent more than $100 billion of its foreign exch

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