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Current rate of Russia’s rouble is adequate – Finance Ministry

September 19, 2011, 23:36 UTC+3
Earlier, the Central Bank of Russia’s First Deputy Chairman Alexei Ulyukayev said that the bank sees no reasons for revision of the rouble’s official exchange rate
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MOSCOW, September 19 (Itar-Tass) —— Russia’s Finance Ministry considers the present rate of rouble adequate, Russia’s Deputy Prime Minister and Finance Minister Alexei Kudrin said on Monday.

“The ministry is satisfied with the policies of the Central Bank,” he said. “We consider the rouble rate adequate.”

Earlier, the Central Bank of Russia’s First Deputy Chairman Alexei Ulyukayev said on the sidelines of the International Investment Forum Shochi-2011 that the bank sees no reasons for revision of the rouble’s official exchange rate.

“Now, we have no grounds to think that the rouble’s rate is overvalued or undervalued,” he said, adding, “We are confident that the currency market is balanced.”

In August, Deputy Minister of Economic Development Andrei Klepach said that the ministry suggests raising the official forecast for the annual dollar rate in 2011 from 28.4 roubles to 28.7 in 2012, to 30.1 in 2013, and in 2014 – to 32.2 roubles. Klepach also said that Russia’s rouble was overestimated.

 

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