The Central Bank of Russia Confirms Financial Stability

The Central Bank of Russia confirmed the stability of the financial situation in the country and the absence of any risks that it faces due to the depreciation of the Russian currency against major currencies.

Deputy Chairman of the Central Bank of the Russian Federation Alexei Zabotkin said at a press conference on Friday that the regulator sees no danger to the country’s financial stability in connection with the situation related to the ruble exchange rate.

He added that the Central Bank decided to stop buying foreign currency on the local market in order to reduce fluctuations in the local foreign exchange market (depreciation of the ruble).

He pointed out that the trade balance, that is, the dynamics of exports and imports, is still the decisive factor determining the exchange rate of the Russian currency.

During today’s trading, the Russian currency fell against its American counterpart to the lowest level since March 25, 2022, and by 16:22 Moscow time the dollar rose to 99 rubles.

At the same time, the exchange rate of the European currency euro rose above the level of 109 rubles, according to trading data of the Moscow Exchange.

Source: RT + News