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Russian Central Bank’s decision on ruble’s free float correct move — Putin

November 18, 2014, 18:09 UTC+3
"This is an absolutely objective thing confirmed not only by what we think about this, but also confirmed by best world experts," Russian President Vladimir Putin said
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© ITAR-TASS/Dmitriy Rogulin

MOSCOW, November 18. /TASS/. The Russian Central Bank’s decision to switch to a freely floating ruble is a solely correct move, President Vladimir Putin said at a forum of the All-Russia People’s Front on Tuesday.

“The Bank of Russia made a solely correct decision to switch to a floating exchange rate. This is an absolutely objective thing confirmed not only by what we think about this, but also confirmed by best world experts,” Putin said.

Putin said the ruble exchange rate is a market category. Speculators would capitalize on its regulation, he added. “This (the ruble rate) is first of all a market category. The more the Central Bank will make attempts to artificially restrain or regulate it, the more speculators will capitalize on our gold and currency reserves,” Putin said.

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