Russia 'welcomes' weaker currency as central bank sticks to float plan

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The Bank of Russia today insisted it would stick to its guns in a move towards a fully floating currency, as the rouble became the latest major emerging market currency to see its price drop significantly in the wake of the US Federal Reserve's Federal Open Market Committee's decision last night to continue to taper.

The central bank posted a response to "rather frequently asked questions" on its website today, reiterating its intention to stick with its defence of a seven rouble-wide band again

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