Central Bank comments on ruble exchange rate

Fluctuations in the ruble exchange rate are occurring at fairly strong levels, so it is not worth talking about a systematic weakening of the exchange rate, Russia's Central Bank Deputy Governor Alexei Zabotkin said.

"The fluctuations we have observed over the last three months are occurring in the lower part of the range in which the exchange rate has been over the last two years. Therefore, it's probably not worth saying that some kind of systematic weakening of the exchange rate is occurring," Zabotkin said.

Yesterday, the Bank of Russia lowered the key interest rate for the third consecutive time, bringing it down to 17% per annum.