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RUSSIA'S ECONOMY

Ex-finance minister: Currency purchases lead to soft weakening of ruble

The majority of experts understands that the ruble rate is going to decline

© Sergei Fadeichev/TASS

MOSCOW, January 31. /TASS/. Purchases of foreign currency by the Russian Finance Ministry will lead to soft weakening of the ruble rate with its subsequent stabilization, chief executive of the Center for Strategic Research Alexei Kudrin said on Tuesday.

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Russian finance ministry to buy and sell foreign currency starting February

"I agree there will be a soft decline [of the ruble rate - TASS], followed by stabilization," Kudrin said responding to the question regarding the impact of currency interventions.

The majority of experts understands that the ruble rate will decline to somewhat 63-64 rubles per dollar in case the Finance Ministry purchases foreign currency on the domestic market, the expert said.

"However, this is just one factor. Certainly, other factors will also be effective at the same time, therefore the trend is for soft weakening. The rate will most likely remain stable after that," Kudrin added.

Russian Finance Ministry announced earlier it will start buying and selling the foreign exchange on the domestic market since February 2017.

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Press review: Russian air defenses can down Western missiles as EU conducts live exercise

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Russian troops liberate Dalneye community in Donbass region over past day

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NATO deployment to Ukraine would mark its entry into the war, Russian diplomat warns

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US sanctions against Gazprombank will not affect gas supplies to Hungary — Ministry

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Residents of Kupyansk, Kovsharovka in Kharkov Region returning to their homes

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IAEA once again fails to hold Kiev responsible for threats to Zaporozhye NPP — diplomat

Russian envoy to international organizations in Vienna Mikhail Ulyanov pointed out that from September 23 to November 12, the Russian servicemen suppressed 556 drones near the plant and Energodar

World has not seen such chaos, brutality since World War II — Kim Jong Un

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Ukrainian frontline may 'collapse' under onslaught of Russian forces — BBC

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US missile defense base in Poland long among Russian army’s targets — Foreign Ministry

Maria Zakharova stated that the US-NATO construction project, ongoing for nearly a decade with complete disregard to Russian security concerns, has consistently been a focus of Russia's attention

Trump to rely on forces that brought him to power — Russian presidential aide

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US, NATO decision on strikes continues policy of escalation — Putin

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Preliminary data shows anti-ship missile downed over Sevastopol waters — official

Governor Mikhail Razvozhayev said that all emergencies services currently work in the high alert mode

Washington has no plans of updating nuclear posture after Russia’s test of new missile

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Captives, Ukrainian losses: situation in Kursk Region

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Zelensky’s actions make Ukraine vulnerable to coup, says politician

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