Russian ruble hits record low against US dollar

The Russian ruble hit a new historical low. The price for the US dollar now exceeds 40 rubles. The price of the euro exceeds 50 rubles, ITAR-TASS reports.

The Central Bank of Russia (CBR) plans to shift fully to inflation targeting policy starting from 2015, but offers to give up interference in a free-floating exchange rate regime and economic management through interest rates.

Since May 7, 2014, the CBR has actually stopped to make interventions and did not resume them even amid a sharp ruble fall in the bi-currency basket on September 30.

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