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MOSCOW, June 5 (Itar-Tass) — A leading Russian economist sees no reasons for a new financial crisis.
“No emergency situations are anywhere in sight. I cannot see a new crisis,” a senior lecturer at the stock markets and financial engineering department of the Russian Economics and Civil Service Academy, Vasily Yakimkin, told a news conference.
He explained that the markets saw major buyouts of foreign currencies in exchange for the ruble over the past weeks.
“The CBR is absolutely capable of keeping the exchange rate within the expected corridor. For this the CBR had to buy out dollars to prevent an excessive firming of the ruble,” the economist said. He recalled that the Bank of Russia actively intervened in the situation over the past six days.
“To keep the ruble at the lower level it used far more funds that it is using today to keep at the upper level,” Yakimkin said.