Logo
  Tuesday, October 4, 2022
Sign-In  |  Sign-Up  |  Contact Us  |  Bookmark 

The Russian Central Bank has no plans to widen the ruble's
The Russian Central Bank has no plans to widen the ruble's trading corridor against the dollar/euro basket, a top Central Bank official said on Saturday.

"We see no grounds for a revision of the corridor," Alexei Ulyukayev, the Central Bank first deputy chairman, said on Ekho Moskvy radio.

The dollar/euro basket is a key determiner of the ruble's exchange rate against the dollar and the euro. Its widening would result in a drop in the value of the ruble against these two currencies.

Ulyukayev also told the radio station that capital inflow to Russia for the first nine months of 2008 was around $800 million.

"This is a provisional figure," he said. "We shall confirm it in a month, when it is possible the inflow-outflow balance will be zero."

Ulyukayev said capital outflow in August was about $7 billion, followed by about $25 billion in September. He expected the figure for October to be lower than the previous month.

The Central Bank has warned that if capital outflow continues then the balance of payments is likely to weaken.

Billions of dollars have been pulled out of Russia by international investors since the global credit crisis hit in August, while lower oil prices have also reduced the flow of capital into the country.


Print The Russian Central Bank has no plans to widen the ruble's Bookmark The Russian Central Bank has no plans to widen the ruble's

Related News   
SepOctober 2008Nov
MoTuWeThFrSaSu
293012345
6789101112
13141516171819
20212223242526
272829303112
3456789