The falling value of the Russian ruble is creating a risk to financial stability and formation of steady devaluation and inflation expectations, according to the Russian Central Bank. Financiers plan to reduce repo currency rates and interventions to correct the currency rate, TASS reports.
Although the Central Bank’s statement gave the ruble a slight boost, the dollar has been quickly regaining its positions. Trading on the Moscow Exchange ended with the dollar dropping 1.4 rubles to 52.39 rubles today. In just half an hour, the fall amounted to only 0.33 rubles. The euro price dropped by 0.70 rubles to 64.94 rubles.
Throughout the year, the ruble to dollar ratio of 32.7 rubles has dropped by about 65%. The Ministry for Finances expects an inflation rate of 9.7% in 2014. The rate in 2015 is predicted to reach 7.5% (3.2% of that from reduction of the ruble price).
