Chairman of the Bank of Russia Elvira Nabiullina considers the fluctuation of the course a problem for the Russian economy. She said this, speaking with a report in the State Duma, reports Rambler News Service. According to Nabiullina, there is nothing good in the volatility of the ruble. "Therefore, we support the introduction of a budget rule that allows you to reduce fluctuations in the ruble exchange rate from the external conjuncture, from oil prices," said the head of the Central Bank. At the same time, she reiterated her commitment to a floating exchange rate. "The Bank of Russia firmly believes in the advantage of a floating exchange rate. We believe that attempts to influence the course to make it, contrary to market factors, move one way or the other, are absolutely not useful for the Russian economy, "explained Nabiullina. According to her, the strong or weak ruble is not important, but the stability of the exchange rate. The essence of the budget rule is that all oil and gas revenues received from exceeding the set cut-off price by the oil price are directed not to budget expenditures, but to reserves. It is planned that the budget rule will work in full force from 2019, but in fact it is already applied, since the Ministry of Finance from February sends all additional oil and gas revenues for the purchase of currency.

Original article: Nabiullina considers ruble fluctuations a problem for the economy.