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Government is not going to reject floating ruble rate, Putin says

According to the president, if the authorities try to regulate the ruble rate by using non-market ways, this will create risks for the country's economy

© Dmitriy Rogulin/TASS

RYBINSK, April 25. /TASS/. The Russian government is not going to walk back from the floating ruble rate, President Vladimir Putin said on Tuesday.

"This is one of key issues [ruble rate stability - TASS]. The rate is not so much important, although we understand this is a sensitive sphere; stability of the national currency is important in floating rate conditions and we are not going to reject it. I would like this matter to be clear," Putin said.

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According to the president, if the authorities try to regulate the ruble rate by using non-market ways, this will create risks for the country's economy.

"We will see how the Central Bank and the government manage to ensure this stability, but we understand that this is one of the key problems and, believe me, we are dealing with it on a daily basis, I do not exaggerate," Putin said.

The authorities understand concerns of businesses in connection with the strengthening of the ruble, he noted.

"Your concerns are also clear to us, we are constantly discussing them and looking for market-based measures to influence this process," he said.

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