Russia's central bank may free float the rouble earlier than a previously mentioned date of 2011 if the country has a strong balance of payments, the bank's First Deputy Chairman said yesterday. "We have a feeling that this [free float] could be earlier than in 2011," Alexei Ulyukayev told reporters on the sidelines of the St Petersburg Economic Forum. "For this to happen in 2010 a number of conditions must be met. It concerns a normal balance of payments and good work of [money] transmission mechanisms," he said without elaborating. Rouble volatility has increased dramatically since the central bank was forced to devalue the currency by 25 per cent against a euro-dollar basket in November-January to adjust its policies to plunging oil prices. But the rouble started appreciating again with the new oil price rally pushing it to 30.93 against the dollar on Friday from as weak as 36 in February. The central bank says greater volatility is the first step that will allow it to switch to a free float and inflation targeting. The rouble is currently technically allowed to fluctuate between 26 and 41 per basket Keep up with the latest business news from the region with the daily Emirates Business 24|7 newsletter. To subscribe to the newsletter, please click here .