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Inflation targeting Active inflation Liquidity Transition deadline Key rate introduced Floating exchange announced targeting management set rate introduced Dec. 2017 Dec. 2018 Dec. 2019 communications

calculations of the values (limits) of open currency positions) at the official exchange rate of the respective currency, set by the Bank of Russia as

Russian Federation over the course of the reporting period. Floating exchange rate regime An exchange rate regime where the central bank establishes no targets, including

coronavirus pandemic? ELVIRA NABIULLINA: We have a floating rate. We do not comment on the exchange rate. But again, there is no threshold, either psychological

the loss of 100% of the player’s own funds! Considering that exchange rate movements equal about 1% per day on average (cross currency movements

500 billion rubles today, on 19 March 2020, given the fluctuations of exchange rates and financial asset prices observed in Russian and global financial markets

of Russia Exchange Rate Policy in 1999-2010 Since 1999, the Bank of Russia implemented exchange rate policy under the managed floating exchange rate regime which

500 billion rubles today, on 13 March 2020, given the fluctuations of exchange rates and financial asset prices in Russian and global financial markets as

Exchange Rate of US Dollar Against Ruble*.......................................................................................................... 87 3.2.2. Official Exchange Rate of Euro Against Ruble*.................................................................................................................. 89 3.2.3. Official Exchange Rate:

remained low at the September– November level. Adjusted for the impact of exchange rate movements, the mean of the estimates stood just above 2% in