Add to favorite
 
123
Subscribe to our Newsletters Subscribe to our Newsletters Get Daily Updates RSS
russian visa


Central Bank Will Not Support Rouble
August 20, 2015 00:11


(Source: http://alenginka.homegate.ru/group)

The current level of foreign exchange reserves of Russia does not allow to maintain the rouble exchange rate, the only remaining leverage of the Central Bank is the key rate. According to RIA “Novosti”, this was stated by the Russian presidential aide Andrei Belousov on Monday, August 17.

As Belousov reminded, the rate of the rouble is currently floating. “And now we already do not have gold and currency reserves or foreign exchange reserves that we could use to support the rouble in 2013” - he noted. The presidential aide explained that the volume of reserves of the Central Bank, excluding gold, makes up a little more than $ 300 billion now.

“However, 120 billion of 300 billion account for government stock - it is the Reserve Fund and the National Welfare Fund that are stored in the currency form” – Belousov said. The rest of the reserves will be enough for nine months of import of goods, which is considered to be the minimum level, according to Belousov.

Belousov also expressed the view that the key rate of the Central Bank of the Russian Federation amounting to 11 percent now may approach the inflation target level of 4 percent in the medium term, however, in case of another fall in oil prices such a scenario is not very probable. At the same time he found it difficult to name another term of reduction of the key rate: “We cannot say how soon and with what variations this is going to happen”.


Sources: http://lenta.ru 


Author: Anna Dorozhkina

Tags: Central Bank     

Next Previous

You might also find interesting:

Viktor Vekselberg. An Interview to the Austrian Newspaper Lavrov Talks About Sanctions Russian Law: Parliament in Action 200 Largest Private Companies In Russia Iran Is Interesed In Investing In Dagestan Projects









Comment on our site


RSS   twitter      submit



TAGS:
Russian tourism  Russian science  Tumen Region  Russian economy  Comics  Russian law  Russian business  Russian Cinema  Ukraine  Kaliningrad  Russian Premier League  Pinocchio  Tver  Russian mobile operators  Russian International  Arkhangelsk  Exhibitions in Moscow  Russian history  Sokolniki Park  George Harrison  Society Television  Arkhangelsk region  Joseph Stalin  Art Performances  floods in Moscow  St. Petersburg  Elections  Opposition  Russian football  St.Petersburg Museums  Nikita Mikhalkov  Alisher Usmanov  coronavirus  firefighting  Dima Yakovlev Act  Krymsk  Moscow  Leonid Sokov  Restoration  Ecotourism  Arctic shelf  Russian scientists  Gergiev  Spassk-Dalniy  VAT  3D Printing  activity holidays  Syria  Mercedes-Benz Fashion Week Russia  Yves Rocher 


Travel Blogs
Top Traveling Sites