Putin aide said about the excessive strengthening of the ruble

The ruble is excessively “perekrestimsya” that poses new challenges to the Russian economy, and prevents domestic producers, warned the Russian presidential aide Andrei Belousov.

“It works in the negative, reduces revenues and increases the budget problems. This reduces the competitiveness of Russian industry and agriculture, devaluing the task of import substitution. And we do see a trend of slowdown of export growth”, — said Belousov on the sidelines of the Forum for strategic initiatives (quoted by TASS).

Assistant to the President noted that for the correction of the ruble may be used a number of tools, which is the case of the CBR and the government.

“How are they to decide and choose, it is a question of current policy and responsibility of the Central Bank of the Russian Federation and the government,” — said Belousov, noting that the President “not by chance” discussed this issue with the Prime Minister.

19 July, Russian President Vladimir Putin at a meeting with Prime Minister Dmitry Medvedev pointed out the risks of excessive strengthening of the ruble. “The ruble strengthened, despite the price volatility in commodity markets, and in this regard we need to think about how and what we will do in the near future in connection with these factors,” — said Putin.

Statements of the head of state called the correction of the ruble: the evening of July 19, the dollar and the Euro increased by about 50 COP. the next day the press Secretary of the President Dmitry Peskov said that the strengthening of the ruble, although it has the positive side, it requires “fine tuning that you need to think in advance and implement.

Previously, experts of Bloomberg called the strengthening of the ruble as an obstacle to economic growth in Russia: a strong ruble, in their opinion, worsens the financial performance of Russian companies.

Today’s trading the dollar and Euro on the Moscow stock exchange opened in the red zone, but closer to the dinner courses both currencies began to rise. The high value of the dollar reached the mark 63,93 rubles, which is 19 kopecks. above the closing level of the previous trading session. The value of the Euro thus rose to 70,5125 RUB (+21,25 COP.).