The Central Bank of Russia (CBR) seems to have decided that it can't beat the markets. On Wednesday Nov. 5th, it announced an end to unlimited currency support interventions. It said it would spend a maximum $350m per day smoothing out fluctuations as the ruble approached the edge of a trading band.
Forbes: Has the Russian Central Bank thrown in the towel?
A woman walks under a board listing foreign currency rates against the Russian ruble, outside an exchange office in central Moscow, on Oct. 13, 2014.
