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Putin says ruble’s exchange rate must not be artificially regulated

May 15, 2017, 14:05 UTC+3

The Russian president stressed that he agrees with the policy of the Central Bank

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BEIJING, May 15. /TASS/. The ruble’s exchange rate must not be artificially regulated, Russian President Vladimir Putin told a press conference on Monday, adding that the Central Bank takes balanced and correct steps in this area.

"Nothing should be done artificially, and in this respect I agree with the policy of the Bank of Russia. Its policy and position rest on a set of various but extremely important components for the country’s economy. The reality is that the Bank of Russia has taken balanced and correct steps," he said when asked whether it is necessary to artificially restrain the ruble’s appreciation.

According to Putin, any fluctuations on the international financial market will not force the regulator to make abrupt movements.

Also, he said, Russia’s Central Bank is gradually moving towards the key rate’s reduction. "We’re constantly calculating what this means for the budget, what this means for particular export-oriented and import-oriented enterprises. On the whole, we’re satisfied with the balance, and we do not plan artificial actions," Putin said.

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