Russian Central Bank promises to keep floating ruble rate

Russian Central Bank promises to keep floating ruble rate

The Bank of Russia does not plan to abandon the floating ruble rate and influence the rate level, the press service of the regulator said.

"The floating rate is the built-in economic stabilizer that has proved its efficiency. The floating rate is the mechanism making it possible to balance interests of various economic entities, importers and exporters in particular," TASS cited the bank as saying.

The ruble is too strong now which results in Russian export growth slowdown, Russian presidential aide Andrei Belousov said earlier on Thursday.

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