Russia could float rouble next year

The rouble may switch to a free float before 2011, a senior official at the country's central bank said at the weekend.

Russia was planning to float the currency, which is now fixed against a dollar-euro basket, in 2011. But Alexey Ulyukaev, a first deputy chairman at the central bank, told reporters on Saturday: "We have a feeling that [a float] could be earlier than 2011."

Ulyukaev said that floating in 2010 would depend on a "normal balance of payments" and an efficient monetary-transmissio

To continue reading...