Russia allows 14th rouble devaluation in two months

Russia on Monday allowed the 14th effective devaluation of its currency in two months, widening the currency's trading band against its euro-dollar basket, the central bank said. The currency basket, composed 55 percent of dollars and 45 percent of euros, traded on Monday at 35.71 rubbles compared to 35.32 rubles on Sunday, a change of 0.39 rubles, RIA Novosti reported.
The widening of the trading band was confirmed to AFP by a central bank official. It was the 14th such devaluation since November 11 and followed another slight devaluation on Sunday.