Central Bank: ruble rate to have pro-inflationary impact in 2023

The rouble rate will have a pro-inflationary impact this year, Russia’s Central Bank Governor Elvira Nabiullina said at a meeting in the State Duma.

"Low inflation will stimulate exchange rate stabilization, the lower the inflation, the more stable the exchange rate. And fiscal rule contributes to stabilization of the real rate," Nabiullina said.

The Russian currency accelerated a months-long slide last week, tumbling to a one-year low at 83.5 against the dollar.