Expert believes US bill on anti-Russian sanctions may trigger new Cold WarRussian Politics & Diplomacy July 27, 16:03
Keying into the Russian Central Bank's key rateBusiness & Economy July 27, 15:59
Decision to strip Saakashvili of Ukrainian citizenship ‘not Kremlin’s problem’Russian Politics & Diplomacy July 27, 15:43
NHL three-time Stanley Cup winner Malkin still hopes to play for Russia at 2018 GamesSport July 27, 15:33
Brazilian football team’s staff kick off Russian language practice ahead of 2018 World CupSport July 27, 14:48
Kremlin explains why commenting on new US envoy pick would be inappropriate nowRussian Politics & Diplomacy July 27, 14:37
Kremlin comments on EU sanctions against RussiaRussian Politics & Diplomacy July 27, 14:36
Russian, Finnish presidents to discuss stability, security in Baltic regionWorld July 27, 14:24
Putin appoints Russia’s permanent representative to UNRussian Politics & Diplomacy July 27, 13:41
MOSCOW, June 19 (Itar-Tass) - 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.