Russian Deputy President Maxim Oreshkin said that the normalization of the ruble exchange rate is foreseen in the near future. It has been reported TASS.
As the vice-president noted, a weak ruble complicates the restructuring of the economy.
“The current exchange rate has deviated significantly from fundamental levels and is expected to normalize in the near future,” he added.
Now, according to Oreshkin, a strong ruble is in the interest of the Russian economy.
Alexei Zabotkin, Deputy Governor of the Central Bank of the Russian Federation, as a regulator takes no risk financial stability due to the ruble exchange rate.
The Central Bank of the Russian Federation has decided not to buy foreign currency from the domestic market from August 10 to the end of 2023, under the budget rule. The Central Bank explained that this is necessary to reduce volatility in financial markets. The Central Bank of Russia stated that it will decide to restart foreign exchange purchases within the framework of the budget rule, taking into account the actual situation in the financial markets.
Previously recognizedHow the weakening of the ruble will affect the state of the economy.