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Russian cbank expects no pressure on ruble from fin ministry ops

January 26, 2017 | Prime

The Russian central bank does not expect speculative pressure on the ruble because of transactions on the foreign currency market by the Finance Ministry, a spokesperson for the central bank said on Thursday.

“Taking into account the appraisal of the volume of additional oil and gas revenue in 2017, preliminarily announced by the Finance Ministry and an assumed evenness of operations on the foreign currency market, the operations on the foreign currency market by the Finance Ministry, should not significantly affect the situation,” the person said.

“Taking into account the fact that the exchange rate dynamics depends on many various factors of both internal and external nature, there are no preconditions for formation of speculative moods of market players,” he added.

The Finance Ministry plans to start buying or selling foreign currency on the local market from February through the central bank, the ministry said on Wednesday.

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