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Sberbank CEO: no fundamental tendencies for rouble weakening

January 31, 2014, 3:11 UTC+3 NOVO-OGAREVO

“We have a normal situation,” he said

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NOVO-OGAREVO, January 31, 0:10 /ITAR-TASS/. Sberbank CEO German Gref holds that there are no fundamental tendencies for the weakening of the rouble. He said so to reporters on Thursday.

“I don’t see any fundamental tendencies for the weakening of the rouble,” Gref said. “We have a normal situation,” he added. “The rouble is not the point of the matter. The matter is that all the currency of developing markets falls (as investment ebbs - Itar-Tass). Fundamental reasons should be looked for. It is not as if we had a balance of payments shortage. Our balance of payments is in surplus,” Gref said. “The situation in the market is stabilizing one way or another,” he said. The head of Sberbank did not forecast at what mark the rouble would stabilize.

Asked in what currency it is more profitable to keep one’s savings, Gref answered that it is too late to take the trouble to move. He also said he believes the Bank of Russia should continue with currency interventions.

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