Russia’s chief banker sees no reasons to expect devaluation of Russia’s national currency, the ruble, in the near future. “There has been no usual exchange rate policy in the country for the past four years, there is a policy of restricting volatility. Speculating about devaluation in a situation like this is senseless, because devaluation comes from the state,” Ignatiev told the State Duma. “The exchange rate moves all by itself.” First Deputy Prime Minister Igor Shuvalov told the media earlier that the Finance Ministry’s decision to start buying up foreign currency did not mean devaluation of the ruble. “Devaluation happens when your trade balance changes drastically, when there are no bank interventions and the exchange rate breaks loose,” he said. “We have nothing of the sort. Our trade balance is still in the black.” He argued that the decision to buy currency that was made several years ago has nothing to do with devaluation. “In order to avoid excessive firming of the ruble the Ministry of Finance may buy foreign currency for rubles, there will be more liquidity and no firming will happen. That’s an agreed policy of the Ministry of Finance and the Bank of Russia,” Shuvalov said.
GMT 05:55 2018 Tuesday ,23 January
US tax reforms send UBS profits plungingGMT 13:12 2018 Sunday ,21 January
CBB signs memorandum of understanding with DFSAGMT 04:49 2018 Saturday ,20 January
HSBC in $100 million forex fraud settlementGMT 14:14 2018 Wednesday ,17 January
Strong euro 'source of uncertainty' for ECBGMT 17:00 2018 Tuesday ,16 January
IMF 'concerned' by Kiev's plan for anti-corruption courtGMT 19:29 2018 Monday ,15 January
Central Bank issues commemorative coin for Dh189GMT 06:05 2018 Sunday ,14 January
Bitcoin shouldn't become the new Swiss bank accountGMT 21:23 2018 Wednesday ,10 January
BCCI elections committee holds second meetingMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor