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President of the Central Russian defends "ruble liberalization" strategy
01/06/2017
Direction Press / AgenciesThe head of the Russian Central Bank, Elvira Nbeaolina on Thursday that the central sticking to the strategy of "float the ruble", although there are some negative effects on the economy.
In an interview with the channel "CNBC" America took place on the first day of the forum "Petersburg economic," Nbeaolina expressed confidence that the liberalization of the currency and the advantages of economic benefits than negative aspects.
Nbeaolina also confirmed that the Russian Central does not intend to intervene in the local currency market, where she said: "Nothing artificial."
The Russian central bank moved, in 2014, to the floating exchange rate of the national currency, according to a new strategy of targeting inflation, based on the installation of the ruble exchange rate policy dissipated the country's reserves of gold and hard currencies.
Earlier, Nbeaolina said that the ruble is close to its real value, adding that the Russian Central did not see any threat to financial stability in Russia due to the devaluation of the ruble.
Analysts see the decline in Russian currency eases the burden on the general budget of Russia, so the fact that the pace of decline in the price of a barrel of oil in the event of Russia's currency calculated slower than the pace of landing the US currency.
Also it stimulates the weakness of the ruble's purchasing power of the Russian government, as Russia gets more rubles of its oil source, which means that the decline in the value of the ruble reduces the negative impact of falling oil prices.
The Russian currency exchange rate at the present time about 57 rubles per dollar, after it was at the beginning of the year 2014 at the level of 33 rubles.
http://aletejahtv.org/permalink/167074.html
01/06/2017
Direction Press / AgenciesThe head of the Russian Central Bank, Elvira Nbeaolina on Thursday that the central sticking to the strategy of "float the ruble", although there are some negative effects on the economy.
In an interview with the channel "CNBC" America took place on the first day of the forum "Petersburg economic," Nbeaolina expressed confidence that the liberalization of the currency and the advantages of economic benefits than negative aspects.
Nbeaolina also confirmed that the Russian Central does not intend to intervene in the local currency market, where she said: "Nothing artificial."
The Russian central bank moved, in 2014, to the floating exchange rate of the national currency, according to a new strategy of targeting inflation, based on the installation of the ruble exchange rate policy dissipated the country's reserves of gold and hard currencies.
Earlier, Nbeaolina said that the ruble is close to its real value, adding that the Russian Central did not see any threat to financial stability in Russia due to the devaluation of the ruble.
Analysts see the decline in Russian currency eases the burden on the general budget of Russia, so the fact that the pace of decline in the price of a barrel of oil in the event of Russia's currency calculated slower than the pace of landing the US currency.
Also it stimulates the weakness of the ruble's purchasing power of the Russian government, as Russia gets more rubles of its oil source, which means that the decline in the value of the ruble reduces the negative impact of falling oil prices.
The Russian currency exchange rate at the present time about 57 rubles per dollar, after it was at the beginning of the year 2014 at the level of 33 rubles.
http://aletejahtv.org/permalink/167074.html
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