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Sberbank head points to supporting floating ruble exchange rate as crucial

January 25, 2017, 14:01 UTC+3
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MOSCOW, January 25. /TASS/. Head of Sberbank Herman Gref said it is crucial to support floating ruble exchange rate for the Russian economy.

"The Central Bank announced floating exchange rate, and I consider it to be crucial to support it. This is a natural compensator to distortions, which arise within the economy. If we intervene less into the situation, confidence of all economic agents will be greater," he said during a press conference in TASS.

Earlier the Bank of Russia said that the ruble’s volatility substantially decreased amid sliding volatility of crude oil prices to the level of summer 2014, prior to the introduction of the floating exchange rate.

Central Bank Chief Elvira Nabiullina also said that the regulator sees no risks of the devaluation of the Russian national currency.

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