There is no reason to believe that the Russian ruble will be unstable in the upcoming year, Russia's Finance Minister Anton Siluanov said on Thursday.
MOSCOW (Pakistan Point News / Sputnik - 27th December, 2018) There is no reason to believe that the Russian ruble will be unstable in the upcoming year, Russia's Finance Minister Anton Siluanov said on Thursday.
The Russian Currency exchange rate is mainly affected by sanctions and fluctuations in energy prices, according to the minister.
"We have created the basis to minimize these fluctuations. Of course, in 2018, the ruble exchange rate was influenced by the exit of foreign investors from our securities [market]. Next year, outflows in such volumes are not going to happen. There is no basis to talk about instability of our national currency," Siluanov told the Rossiya 24 broadcaster.
The ruble has been repeatedly hit over recent years by the impact of Western sanctions as well as falling oil prices, with the twofold plunge of its exchange rate partly contributing to high inflation. The central bank responded by adopting a tough monetary policy and high interest rates with an emphasis on stemming inflation.
