North Korea test fires another missileWorld May 29, 1:29
Russia’s Zvyagintsev wins Jury Prize at 70th Cannes Film Festival with his LovelessSociety & Culture May 28, 21:32
Three Russian tourists hurt is road accident with tourist minibus in TurkeySociety & Culture May 28, 18:58
Some 40,000 cyclists taking part in Moscow cycle paradeSociety & Culture May 28, 18:33
Corporation Irkut: MS-21 first flight performed in routine modeBusiness & Economy May 28, 16:54
Ukrainian military launch more than 180 shells, mines on Donetsk within one dayWorld May 28, 16:36
Minister: Russia may supply 1,000 MC-21 planes to 2037Business & Economy May 28, 14:42
Lavrov: China, ASEAN interested in organization of Eurasian partnershipRussian Politics & Diplomacy May 28, 11:45
MC-21 airliner makes first test flight - sourceBusiness & Economy May 28, 11:00
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.