St Petersburg’s landmark cathedral to get patriarchal statusSociety & Culture April 28, 3:07
Russians to be proud of its F1 racer Daniil Kvyat - Toro Rosso principalSport April 28, 3:02
Moscow holds first night rehearsal of Victory Day ParadeMilitary & Defense April 28, 1:18
Russia’s Kvyat expects full-house attendance at 2017 F1 Russia GP in SochiSport April 28, 1:14
Only OPCW investigation can bring up truth on Khan Sheykhun chemical attack — MoscowWorld April 27, 23:37
Kvyat to race at home F1 GP in Sochi with new helmet design depicting him riding torpedoSport April 27, 21:43
Maria Sharapova gets into quarterfinal of tournament in StuttgartSport April 27, 21:16
Russia, Japan to hold bilateral year of culture in 2018World April 27, 20:49
Angela Merkel’s visit to Moscow – pragmatism above all elseRussian Politics & Diplomacy April 27, 19:18
MOSCOW, July 2. /TASS/. The replenishment of Russia’s Reserve Fund after 2018 will have an impact on the national monetary policy and prevent the ruble’s excessive strengthening, Finance Minister Anton Siluanov told reporters on Thursday.
He added it will also have a positive impact on competiveness of national products.
"When we speak about the Reserve Fund replenishment, this implies not only reserve formation but also a macroeconomic effect of the surplus of currencies the government buys in order to ameliorate the exchage rate and its policy," the minister said.
He said before 2014 the ruble kept on strengthening which had a negative effect on competitiveness of Russian products.
"That is why the creation of reserves and the use of surplus oil and gas revenues in reserves is a macroeconomic component which won’t let the [ruble] rate strengthen," he said.