The Central Bank did not see any risk to financial stability in Russia due to the sharp fall in the ruble. The currency is weakening after the depreciation of the main export commodities, the regulator explained. The dollar exchange rate on the stock exchange rose today above 88 rubles, the euro – above 95 rubles.
The Central Bank sees no risks to Russia’s financial stability from the weakening ruble, said Alexei Zabotkin, deputy chairman of the Bank of Russia. Interfax writes about it.
Zabotkin explained that the ruble has weakened following the fall in the prices of the main Russian exports in recent months. The rate is determined by balance of payments flows and what happens to exports and imports, Zabotkin added.
The dollar exchange rate on the stock exchange on Friday, June 30, exceeded 88 rubles, the euro rose to 96 rubles. The Russian ruble has been losing ground for two months after strengthening to 76 rubles to the dollar in early May. Analysts attribute the ruble’s weakness to weak oil prices.
Author:
Kirill Bilyk
Source: RB
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