ING: intervention is the least suitable option for the CBR

ING: intervention is the least suitable option for the CBR

MOSCOW, January 21. Intervention is the least suitable option for CBR, and the rate increase would be politically difficult, according to the comments of the experts of the ING Bank.

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The fluctuations of the ruble. Chronicle of events

“Any form of intervention would be the least preferred option from the point of view of CBR, given their desire to have a larger volume of foreign exchange reserves. And the rate increase could be politically difficult, although we believe that the Central Bank will be enough space for choice without the big pressure from the government, if need be,” says chief economist for Russia and CIS ING Bank Dmitry Polevoy.

The dollar against the ruble on the Moscow stock exchange at the opening of trading on Thursday, increased compared with the close of the previous trading by 4.59 rubles and amounted to 85,99 ruble. This is on of the ruble to 5.89 above the maximum set on 16 December 2014.

More expensive the dollar was worth only to the denomination of the ruble in 1998 At the exchange rate of the CBR on 30 December 1997 the dollar was worth 5 thousand 960 rubles.
The Euro rose today at 5,06 of the ruble to the level 93.7 per ruble.