Kostin expects the Central Bank will try to smooth the sharp jumps of the ruble

Kostin expects the Central Bank will try to smooth the sharp jumps of the ruble


The Central Bank is prepared to act in extreme cases, therefore, in sharp jumps of the ruble, the regulator will take action to mitigate them, said the head of VTB Andrey Kostin.

DAVOS (Switzerland), 21 Jan. The head of VTB Andrey Kostin expects that, in sharp jumps of the ruble, the CBR will try to smooth out.

“I think the CBR in a pinch always take steps… I think that when there are sharp jumps of the Central Bank will still try to smooth them. And with a smooth movement — I think not,” said Kostin reporters.

The Central Bank in late 2014 let the ruble float freely, eliminating regular intervention and the corridor of the currency basket, however, reserved the right to enter the market with interventions to support the ruble.

The dollar Wednesday hit a new historical high, exceeding 85 rubles, the Euro crossed the mark of 93 rubles for the first time since December 2014.