Russia's currency is the ruble and its central bank is the Bank of Russia

Background

This standing fact sits behind the Bank of Russia's decision to hold its key rate at 14 percent. Russia's national currency is the ruble. Its central bank is called the Bank of Russia, and the Governor is Elvira Nabiullina. The bank's headline policy instrument is the key rate, which only its Board of Directors may change; this is the Russian counterpart of the repo rate used by the Reserve Bank of India. The bank's registered address is 12 Neglinnaya Street in Moscow, which is Russia's capital. Rate statements are read out by the Governor at a news conference after each Board meeting, and the bank also publishes a dated calendar of its future rate meetings.