CBR to limit ruble strength

The Central Bank of Russia will move to limit the ruble's strength next year to help local producers compete with imports, despite IMF calls for a more flexible exchange rate policy reports the Moscow Times.

The International Monetary Fund says Russia would benefit from allowing a faster appreciation of the ruble, propelled by country's solid balance of payments, to curb its double digit inflation.

But the Central Bank's 2004 monetary policy blueprint suggested the bank intended to mop up dol