Content: 2 Top Stories 5 The Regions This Week 11 Eastern Europe 14 Eurasia 17 Central Europe 21 Southeast Europe 25 Opinion 28 Lists
bne:Newspaper Follow us on twitter.com/bizneweurope November 7, 2014
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Ruble fall continues as Russia's central bank moves to free float bne Russia's central bank announced on November 5 that it would restrict interventions on the currency market to $350mn per day, in a move towards a ruble free float scheduled for January 2015. The ruble's devaluation continued following the decision, reaching RUB44.87 to the dollar, down from RUB43.83 at the opening of trading. The drop of 2.6% was one of the largest singleday drops of the last 10 years.
The central bank raised its main interest rate by 150 basis points on October 31 due to inflation fears, but this had little effect on the ruble's continued depreciation. The ruble has dropped in value against the dollar by around one-third since the start of the year. "In case the value of the dual-currency basket [of dollars and euros] stays on or outside the See page 2
Mongolian prime minister loses confidence vote Terrence Edwards in Ulaanbaatar Altankhuyag Norov, Mongolia’s prime minister, resigned on November 5, signalling the end of the so-called “Government of Change” that he formed in 2012 with a grand coalition.
in a no-confidence vote called by the opposition on November 5, 34 of 66 members of parliament voted in favour of ousting Altankhuyag, Mongolian television showed. Eight members of his own coalition government failed to vote.
Lawmakers had been preparing to vote on appointments for a government reshuffle that was The Democratic Party will now have to regroup largely motivated by the slowing economy. But See page 4