The Central Bank and the Finance Ministry does not consider influence on the movement of the ruble

The Central Bank and the Finance Ministry does not consider influence on the movement of the ruble


MOSCOW, 11 February the CBR and the Finance Ministry does not consider influence on the movement of the ruble into one side or the other, the artificial influence on the course will only hurt the economy, reported the press service of the regulator.

Expert opinion

Author: Konstantin KORISHCHENKO
Korishchenko
Constantine

“The Central Bank and the Finance Ministry does not consider influence on the movement of the ruble into one side or the other. Artificial influence on the course, in the end, nothing but harm to the Russian economy cannot bring” – said the CBR.

Previously, the Agency Reutrers with reference to sources in the government said that the government can deliberately lay low ruble exchange rate for budget calculations to balance the budget at lower oil prices. According to one source Agency, the weakening of the ruble to 1 increases the budget revenue of 35-40 billion.

The Bank of Russia from November 10, 2014 abolished the previously existing mechanism of exchange rate policy and completed the transition to the floating exchange rate regime. The fall of the ruble began in the second half of 2014, while from June to December, the Russian currency has fallen against the dollar by 2.2 times. Then in 2015 amid falling oil prices, the ruble fell against the dollar by 31%, to Euro – by 17%. Since the beginning of this year, the dollar rose against the ruble by another 8% to 79.5 per ruble and Euro – 12% to 90.1 ruble.