Currency converter
^
News Feed
News Search Topics
ОК
Use filter
You can filter your feed,
by choosing only interesting
sections.
Loading

Kremlin says no "collapse" in current ruble rate

January 21, 12:43 UTC+3 MOSCOW
Vladimir Putin plans no separate meeting on the Russian economy
1 pages in this article
People walking past an exchange office screen showing the currency exchange rates of the Russian ruble, and euro in Moscow, Jan. 21, 2016

People walking past an exchange office screen showing the currency exchange rates of the Russian ruble, and euro in Moscow, Jan. 21, 2016

© AP Photo/Alexander Zemlianichenko

MOSCOW, January 21. /TASS/. Kremlin believes that the current change of the ruble rate should not be regarded as "collapse". "I would not use the world "collapse", the rate is changing indeed, the rate is volatile but it is a far cry from collapse," - spokesman of Russian president Vladimir Putin Dmitry Peskov told reporters.

"In this case there are no grounds to think that the Central Bank lacks scenarios aimed at avoiding really collapse like changes," - Peskov said.

Peskov said that Russia has a "mega-regulator" - the Central Bank, which is closely monitoring the situation and analyzes it.

Peskov declined to name the ruble rate, which could be considered as a "collapse".

"It is not my authority. These forecasts should not be voiced from the Kremlin," - he said.

Putin plans no separate meeting on Russian economy

According to the spokesman, Vladimir Putin does not plan to hold a separate meeting on the Russian economy.

"Meetings are held now on the regular basis in the government, in the cabinet of ministers," Peskov said. "There are no special meetings planned for the president until the end of this week," he added.

Peskov also noted that "information is reported to the president in the routine mode." "A meeting with the government is included in the program for next week," the Kremlin spokesman said. ""Of course, we cannot rule out that discussions on the economic situation will also take place in the framework of some formats," he added.

On Thursday, during the first two hours of trading on the Moscow Exchange, the dollar rate against the ruble increased by 4.6 rubles to 85.99 rubles, euro up by 5 rubles to 93.7 rubles.

The dollar was more expensive only before the ruble denomination in 1998. According to Central Bank, on December 30, 1997 the dollar was worth 5,960 rubles.

The price for Brent crude oil is extending losses, which have exceeded 5% since the start of the week. The cost of the futures contracts of Brent crude oil for March 2016 delivery on London's ICE trading went down by 1.65% on Thursday to $27.72 per barrel.

Interventions least appropriate option for Russia’s Central Bank

Experts of ING bank said in a comment on Thursday that interventions are least appropriate option for Russia’s Central Bank, raising the key rate would be politically challenging.

"Any form of intervention would be the least appropriate option for the Central Bank, considering their wish to have as big volume of currency reserves as possible. Raising the key rate would be politically challenging although we think that the Central Bank will have enough room for choice without a strong pressure from the government, if it is necessary," - chief economist on Russia and CIS at ING Dmitry Polevoy said.

Show more
In other media
Реклама
Реклама