VLADIVOSTOK (Sputnik) — In November 2014, Russia's Central Bank cancelled the non-limited exchange rate interventions, effectively free-floating the national currency.
"You know that we currently have a floating currency. There are big advantages… and some troubles, which appear here. But we have taken such a decision. You should simply know that these decisions have been taken for a long term…Of course, people should take advantage of the ruble's weakness. And we proceed from the idea that both Russian and foreign manufacturers do this," Putin said at a meeting with investors of the Far East.
In January 2015, the Russian government announced an anti-crisis plan to stabilize the economy by 2017 amid a global slump in oil prices. After three months, the Russian national currency began to strengthen against the dollar and the euro.