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Russia to revise exchange rate mechanism

The Russian Central Bank will revise its mechanism for setting exchange rate targets, Central Bank Deputy Chairman Konstantin Korishchenko declared. According to him, the bank is considering the possibility of changing its exchange rate policy.

Gerashchenko lashes Russian central bank

Former Russian Central Bank Chairman Viktor Gerashchenko has said he would sack the current management of the bank if he could. Appearing on Russian breakfast TV he said they did many things wrong because they are non-professionals.

Russia not to vary currency policy after G7 meet

Russian Central Bank First Deputy Chairman Oleg Vyugin said on Monday 9 February that the bank saw no reason to change its currency policy following last weekend's Florida meeting of the Group of Seven finance ministers and central bank governors.

Gerashchenko's appeal fails

Russia's Supreme Court rejected an appeal from former central bank chairman Viktor Gerashchenko on Friday 6 February over refusal by the Central Electoral Commission to register him a candidate in the upcoming presidential election.

Russia may float currency rates in future

Russia's central bank first deputy Oleg Vyugin said on Tuesday 2 December that it will be two years, at the earliest, before Russia can switch to floating currency rates, according to a report by UPI "We must see whether it is effective, evaluate…

EBRD sees no sign of banking crisis in Russia

The European Bank for Reconstruction and Development's senior economist, Ivan Szegvari, has said that Russia is not in danger of a banking crisis similar to August 1998, according to Interfax. At the presentation of the EBRD's report on transition…

Russia's gold reserves on hold

Central Bank of Russia deputy governor Oleg Vyugin was quoted as saying Russia has no plans to increase gold reserves at the moment. He said current conditions were not good for buying gold which is "substantially expensive" and lacks liquidity, Reuters…

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