Central Bank of Russia changes currency basket

02/09/07 - Alfa Bank

LONDON, February 9 (newratings.com) - Analysts at Alfa Bank say that the Central Bank of Russia has changed the composition of the basket of currencies.

In a research note published this morning, the analysts mention that the currency basket was changed, with the composition of the US dollar reduced from 60% to 55%, and the euro increased from 40% to 45%. The previous change to the currency basket was in December 2006, the analysts say. The latest change in the currency basket is in-line with the changes in the Central Bank of Russia’s currency reserves, Alfa Bank adds.