The central bank has all the necessary instruments to support the currency, the Russian president has said
Russia does not consider the recent devaluation of the ruble an “insurmountable” problem, because the factors affecting the currency are manageable and, for the most part, temporary, President Vladimir Putin stated on Tuesday.
According to the Russian leader, one of these factors is the return of foreign currency earnings of major exporters, and another – the rise in imports.
“When the ruble exchange rate was 60 to the dollar, we had not yet established logistical chains for imports. Now imports are coming to our market in greater and greater volumes, which means that the demand for foreign currency is growing. There are other factors, but in general they are manageable. We see them, we understand them, the central bank can cope with them,” Putin said, speaking at the plenary session of the Eastern Economic Forum in Vladivostok.
The…