Solutions to rouble trouble
From then on, the rouble became a 'managed float' with some restrictions for corporations and in overseas trading. A plethora of derivatives developed to complement the non-deliverable forwards (NDF) market, which had long provided the benchmark for term rouble rates. Cross-currency swaps, based off a USD Libor fixing, same currency interest rate swaps based off a rouble fixing known as Mosprime, basis swaps, even the occasional overnight index swap, developed. These were evidenced by Isda
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