When the Russian Ruble Reached the Limits of the Bands

question 13

Multiple Choice

When the Russian Ruble reached the limits of the bands about its managed float targets (Ru5.70/$ to Ru6.35/$) in 1997, the Russian government would intervene in the markets to stabilize the Ruble. If the exchange rate approached Ru5.70/$ the government would ________ Rubles using foreign exchange and gold, or if the exchange rate approached Ru6.35/$ they would ________ Rubles.

• A) buy; sell
• B) sell; buy
• C) buy; buy
• D) sell; sell

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Definitions:

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