Date: a month ago   Category: Finance

Oreshkin has allowed strengthening of ruble to level below 64 rubles for dollar — Rambler News Service


Suspension of purchases of currency by the Bank of Russia for the Ministry of Finance within the budgetary rule can promote strengthening of ruble to level below 64 rubles for dollar, the Minister of Economic Development Maxim Oreshkin has told journalists. "It is clear that if we estimated … fundamental ruble exchange rate in the presence of purchases about 64 rubles for dollar, this additional offer will push the Russian currency to stronger strengthening too" — he has told. Oreshkin has reminded that "the Central Bank declared publicly that he stops acquisition of currency within the mechanism of the budgetary rule and won't buy currency in the market, and to sell from the currency reserves, to transfer them to reserves of the government". "Now the monthly volume of purchases which are made by the government within the budgetary rule, about $7 billion a month, that is three last months of this year about $25 billion the additional offer of currency for the foreign exchange market in case of lack of purchases of the Central Bank will come" — the minister has added.

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