there are no financial stability risks due to the ruble exchange rate – Kommersant
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The Bank of Russia sees no risks to the country’s financial stability due to the situation with the ruble exchange rate, said Central Bank Deputy Chairman Alexei Zabotkin. Today, August 11, course Euro during trading on the Moscow Exchange exceeded 108 rubles, the exchange rate dollar — 99 rub.
“We do not see any financial stability risks due to the weakening of the ruble, but we would like to avoid a situation where we further increase market volatility with these operations,” Mr. Zabotkin said during a press conference (quoted from “RIA News”).
“As for the dynamics of the exchange rate: we still believe that the decisive factor is what happens in terms of exports and imports of goods and services,” he explained.
According to information Bloomberg, in 2023 the ruble weakened against the dollar by 23%. According to the publication’s calculations, the ruble was in the top three currencies with the worst performance among emerging markets – on a par with the Turkish lira and the Argentine peso.
For more information about when the national currency exchange rate stabilizes, see the Kommersant FM article. “The fall of the ruble marked the boundaries”.
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