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Kremlin says no sharp devaluation, currency fluctuations due to volatility

June 19, 2013, 17:55 UTC+3

Presidential spokesperson Dmitry Peskov stressed that it would be wrong to speak about sharp devaluation

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ST. PETERSBURG, June 19 (Itar-Tass) - Presidential spokesperson Dmitry Peskov said it would be wrong to talk about sharp devaluation of the rouble.

“Rouble fluctuations may occur of course because the global economy is volatile and the Russian economy is volatile to some extent,” he said on Wednesday, June 19.

At the same time, he stressed that “it would be wrong to speak about sharp devaluation.”

“There are strict economic laws and the weakening of a local currency boosts operations of export- and import-oriented enterprises, which dominate in Russia,” Peskov said.

“But we are not talking about some jumps or sharp devaluation,” he stressed.

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