Russian central bank to increase euro weighting

- Central Banking staff
- 27 Apr 2005

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The Central Bank of Russia plans to increase the euro's weighting in its bi-currency basket to 0.3 soon, CB First Deputy Chairman Alexei Ulyukayev told a press conference on Tuesday 26 April.

"Yes, we will increase [the euro's weighting in the basket] in any event to 0.3," he said.

Originally, the euro's weighting in the basket was 0.1 and that of the U.S. dollar was 0.9. These are now 0.2 and 0.8 respectively.

"Then we'll see," Ulyukayev said, commenting on the possibility of a further increase

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