Why does the ruble float

17 January 2018, 16:34 | Economy
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The current strengthening of the ruble is not "very strong," so the state should not interfere in the process. The floating rate depends on a number of objective factors. Such a statement was made by the First Deputy Chairman of the Bank of Russia Ksenia Yudaeva. The official noted that the increase in the value of the national currency occurs against the background of a noticeable increase in oil prices - up to $ 70. This circumstance creates a favorable ground for strengthening the ruble. "Accordingly, there are factors that affect the ruble.

But, on the other hand, the volatility of the ruble can indeed be up and down - the ruble is floating. May depend on various factors related to both the trade balance, current account, and the capital account, "- said Yudaeva (her words lead Finmarket). To the increased volatility the entire Russian economy is inclined, the regulator. For example, the consumer price index will fluctuate in the short term. Annual inflation, which was 2.5% last year, will return to the target of 4% by the end of this year. However, Yudaeva did not rule out that this could happen sooner or later. "In the very short term, inflation is quite low. On a longer term, which is affected by monetary policy, there are more inflationary risks. There are volatile inflation factors. This (the return of inflation to the goal) may be a little earlier and theoretically a little later, "she said.. In general, the country's financial system is fairly stable.

However, here you also need to be prepared for the bursts of volatility. "We expect the situation to be stable. But we say that, of course, there are risks of volatility, to which we are always ready. But the risks and risks, to answer the question - when, it is always difficult. Therefore, we must always be ready, "- concluded the first deputy chairman of the Central Bank. Minister of Finance Anton Siluanov earlier explained the strengthening of the ruble by increasing the interest of foreign investors in the assets and securities of the Russian Federation. At the same time, he mentioned the current budget rule, according to which surpluses from the sale of hydrocarbons enter the National Welfare Fund and protect the Russian economy and the ruble against external shocks. From ruble volatility, the country will also be protected by the announced release of dollar bonds, in which Russian oligarchs, who are forced to sell off-shore assets due to the threat of US sanctions.

The size of the Eurobond program will be $ 3 billion. If this money flows to Russia, then even the departure of foreign investors will not ruin the national currency. To make the tool more attractive to the rich, the government allowed them not to pay a 13 percent personal income tax in the event that they receive a profit from currency revaluation of securities. The ruble exchange rate has strengthened against the dollar by 2% since the beginning of the year,. At today's auction, the value of the Russian currency fell slightly, but it is too early to talk about changing the uptrend. The dollar exchange rate increased by 20.47 kopecks, to 56.5925 rubles. The rate of the single European currency increased by 14.87 kopecks, amounting to 69.173 rubles.




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