The Russian central bank to prop up the ruble began to conduct intensive intervention in the foreign exchange market. This was stated by the head of the regulator, Sergei Ignatyev, at a press conference after the annual meeting of stockholders of the Savings Bank on Friday.
According to him, further developments will largely depend on the dynamics of oil prices, the agency RIA Novosti reported.
"If the price drop will stop, then the rate will be strengthened, because now the movement rate is largely due not to the actual price, as expected. If you continue to drop in oil prices, it is possible that the ruble will continue to weaken, but at a slower pace than in recent years, as we are now actively carry out the intervention, "- said the head of the Central Bank.
The head of the Central Bank believes that the weakening of the currency associated with the European crisis.
But Ignatieff said that the Central Bank will continue to adhere to the same monetary policy as all the past three years, and will not change it because of the situation in the foreign exchange market.
According to him, further developments will largely depend on the dynamics of oil prices, the agency RIA Novosti reported.
"If the price drop will stop, then the rate will be strengthened, because now the movement rate is largely due not to the actual price, as expected. If you continue to drop in oil prices, it is possible that the ruble will continue to weaken, but at a slower pace than in recent years, as we are now actively carry out the intervention, "- said the head of the Central Bank.
The head of the Central Bank believes that the weakening of the currency associated with the European crisis.
But Ignatieff said that the Central Bank will continue to adhere to the same monetary policy as all the past three years, and will not change it because of the situation in the foreign exchange market.
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