Russian Federation: Selected Issues

International Monetary Fund

No 2013/311, IMF Staff Country Reports from International Monetary Fund

Abstract: This Selected Issues paper analyzes the impact of the adoption of inflation targeting (IT) on exchange rate volatility in Russian Federation. Russia has seen an increase in exchange rate volatility during the past few years compared with the period before the global financial crisis, as the authorities have chosen to allow a higher degree of ruble exchange rate flexibility in preparation for the adoption of IT. The average of the 12-month coefficient of variation of the ruble/dollar exchange rate has also increased from 2.2 percent in December 2005–September 2008 to about 3.7 percent in March 2010–June 2013.

Keywords: ISCR; CR; exchange rate; bank; inflation targeting; dollar; exchange rate volatility; inflation-targeting country; interest rate volatility; asset quality; exchange rate expectation; Exchange rates; Exchange rate arrangements; Macroprudential policy; Financial sector stability; Global; East Asia (search for similar items in EconPapers)
Pages: 77
Date: 2013-10-21
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Citations: View citations in EconPapers (1)

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