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Central Bank Expects No Further Weakening of Russian Ruble - Bank Head
Friday, 11 September 2015 14:48
Central Bank Expects No Further Weakening of Russian Ruble - Bank Head

15:48 11.09.2015(updated 16:59 11.09.2015) Get short URL

MOSCOW (Sputnik) The Russian Central Bank does not expect the ruble to weaken more in the future, Central Bank head Elvira Nabiullina said Friday.

“We don’t see a trend for the further weakening of the exchange rate [of the ruble], we don’t have a heightened volatility, including what’s tied to the high volatility of oil prices,” Nabiullina said at a press conference.

She said there was a trend in December 2014, but as of September 2015, she does not see the ruble weakening.

The ruble lost half its value late last year due to the global drop in oil prices and Western sanctions imposed on Russia, but regained some value this spring.

In the past months, the ruble's value has been cycling between 50-70 rubles per US dollar.

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