FT – Rouble hit by stagnant growth and oil revenues

Russia’s rouble is getting a makeover. Next month, the central bank will tally up votes to pick a new logo for the currency – a symbolic move intended to erase memories of hyperinflation and devaluations.

It is part of a broader push to encourage the rouble’s use by both Russians and international investors, as the authorities seek to promote Moscow as a regional financial centre. And it complements recent steps by the central bank to scale back intervention in the foreign exchange market, acting on a commitment to let the currency float freely by the start of 2015. (Read more… http://www.ft.com/intl/cms/s/0/13236d78-578e-11e3-b615-00144feabdc0.html#axzz2lnEFsoJx)


(English, Article, 2013)

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