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Putin: government understands need to maintain dollar value against ruble at certain level

"Exchange rate difference is more potent and works more efficiently than budget support" for the real, export oriented production, the president said

© TASS/Sergei Konkov

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ST.PETERSBURG, June 18. / TASS / The government understands need to maintain the dollar value against the ruble at certain level, said Russian President Vladimir Putin at the meeting of the heads of industrial enterprises at the St. Petersburg International Economic Forum on Thursday.

"I must say that the government supports this thesis, that you have now formed," said President Putin in a reply to the request by the head of an export-oriented enterprise to support the dollar at a high level for the next 2-3 years.

President Putin said that in the recent years some currency fluctuations with the ruble have occurred, and they have been multidirectional. But "it's all in the market area," he said.

While speaking about the government's position, President Putin said that "we all understand everything but what is important is not to overdo it. The excessive weakening of the national currency has its negative components". However, the "exchange rate difference is more potent and works more efficiently than budget support" for the real, export oriented production, the president said.

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