The head of the Central Bank Nabiullina urged not to build conspiracy theories due to the weakening of the ruble
The movement of the ruble exchange rate is largely determined by the dynamics of foreign trade, said Elvira Nabiullina, chairman of the regulator, at the International Financial Congress organized by the Bank of Russia, her words are quoted RBC.
She urged not to build conspiracy theories about what is happening “almost a special easing in order to increase budget revenues or some other theories.” Nabiullina drew attention to the fact that the strengthening of the national currency last year, which was perceived by many as a “victory over circumstances”, was the result of a sharp increase in exports and a decrease in imports.
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As of 11:00 Moscow time, the dollar exchange rate on the Moscow Exchange exceeded 93.4 rubles, the euro – 101.5 rubles.
Earlier, the head of the Central Bank said that the monetary policy of the regulator, including inflation targeting and the floating exchange rate of the ruble, has shown its effectiveness both during crises and in a calm period, including it is working now. She called the floating exchange rate a boon that makes it easier for the national economy to endure external shocks, primarily sanctions.
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