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Monday, January 15, 2018

Siluanov explained how the government uses perioralny ruble

Russian Finance Minister Anton Siluanov said that at the current rate of dollar to ruble “bureucrat” at 10-12%. Thus, according to the official rate of the national currency would have to be about 64 rubles per dollar.

photo: Archive MK

According to Siluanov, quoted by “Interfax”, taking advantage of the current situation, Russia has already bought $ 500 million for current needs and will probably purchase in the same vein, another billion dollars.

The Minister specially stressed that these funds are purchased in addition to those that are on the replenishment of the Reserve Fund.

No effect of procurement rate on the ruble Siluanov explained that it was bought by the Ministry of Finance outside the market and without the participation of the Central Bank. The Minister did not specify how long, in his opinion, will last the deviation of the exchange rate of “fundamental values”.

Note that, according to most experts, previously forecast the devaluation of the ruble in the near future, now until summer the rate should be stable, and then started the decline in the third quarter. Now on the ruble, according to them, is influenced primarily caused by growing prices for oil. The course failed to weaken even the fed rate hike United States: so, was refuted forecast, in particular, the ex-Finance Minister Alexei Kudrin.


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