Russian peg change to drive rouble trading

Russian authorities have said they will introduce the measure in a bid to allow them to manage the effective exchange rate with their major trading partners more effectively, said Peter Redward, head of emerging markets currency research at Deutsche Bank in London. "The Central Bank of Russia wants the exchange rate to more closely match trade flows, as currently the rouble is tracking the dollar very closely, and this can hit trade with euroland trading partners," he said.

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