RUSSIA SHOULD TRANSFER TO FLOATING EXCHANGE RATE IN A FEW YEARS - CBR
MOSCOW. Nov 26 (Interfax) - The Central Bank of Russia says the country needs to transfer to a floating exchange rate
in a few years, Central Bank First Deputy Chairman Oleg Vyugin said at a debt management conference on Wednesday.
The Russian economy is in a stage of modernization, during which it requires a high rate of investment growth, he
said. Objective national currency appreciation in these circumstances will stimulate the influx of investment.
"More objectively valued Russian assets, with the exception of the economic sector that is completely oriented
toward export, will help trigger a large influx of investment," Vyugin said.
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