Today in the morning the attention of experts was again focused on the exchange rate. The dollar and the euro has not shown such incredible value as the day before. Ruble played the position, although they were fluctuating up and down. The Government and the Central Bank have developed a package of measures to stabilize the situation.
How to define presidential aide Andrei Belousov, they “really got down to stop the orgy in the foreign exchange market.” And against this background that the dollar has dropped almost to the level of 60 rubles, euro – below 75 rubles. By evening, favored and oil – barrel mark “Brent” once again become more expensive $ 60. The story of today’s decision.
“The Battle of the ruble” is already bearing fruit – experts still extremely careful in his judgments and the growth of the national currency stable trend is still not known. After the morning it seemed that the clouds are gathering again. Dollar rose to the height of seventy-three rubles, euro – up to ninety-two. But 30 minutes later – still fall gives way to growth: the dollar and the euro losing 5-7 rubles. Players in disarray – the risk is really unsafe. In place of yesterday’s panic comes calculation and expectant management.
For the second meeting for the last day. If yesterday in the White House were invited only representatives of the financial and economic bloc, now – which is essential – the heads of major exporting companies. The head of Rosneft Sechin, the president of “Lukoil” Alekperov, Chairman of the Board of “Gazprom” Miller, CEO of “Norilsk Nickel” Potanin, “Tatneft”, “Surgutneftegaz”, “Severstal”, “Novatek”, “Alrosa” – all the backbone of the Russian economy .
The largest steelmakers and the entire leadership of the country’s fuel and energy complex of Russia, people who can directly influence the economy – at the same table. Most of the meeting behind closed doors and we, of course, about the exchange rate. Two fundamentally important news – and then the growth of the national currency – Russia has sufficient reserves and mechanisms for the solution of economic problems. Medvedev is officially announced – strict regulation will not be exact. Market instruments only.
“Everyone recognizes that the ruble is undervalued today, looked up from his course fundamentals, does not reflect the state of the economy. The Central Bank together with the government to develop a package of measures to stabilize the situation. We are here to act in concert. What we see today is mainly a game of emotions. In our common interest as soon as possible to restore order in the currency market. No one, neither our citizens, neither the Bank nor the real sector do not need such instability. But at the same time it makes no sense to enter and extremely strict regulation of this sphere, which was in a certain period. It is useful to anything does not. We believe that our future actions should be based on market mechanisms, “- said Prime Minister Dmitry Medvedev.
It is known that the government prepared a package of financial measures. The first steps have been taken. Medvedev instructs conduct daily monitoring on the implementation of foreign exchange earnings in the market, in cooperation with the Central Bank and the Federal Financial Monitoring Service. Responsible – First Deputy Prime Minister Igor Shuvalov.
“It is clear that some companies need to make payments on foreign debt, some companies to buy equipment abroad. In such circumstances, fears about buying the currency, they are generally are clear. But at the same time, we must proceed from the fact that the purchase of foreign currency in the current situation – this acquisition is often at a lower rate. Colleagues, it means that all economic and production goals that you set for yourself, for their achievements currency resources in our country is, you know, “- said Medvedev.
The situation in the currency market – and this is a direct quote Medvedev – the sum of the responsible position of just exporting companies. Medvedev instructed – rhythmically and consistently implement monetary means, avoiding jumps of the course. Press service of the Government on the results of the meeting gave its refinement.
“The companies presented evidence on the implementation of foreign exchange earnings through authorized banks. The company also shared their plans for the further implementation of foreign exchange earnings,” – says the spokesman.
The negative impact on the exchange rate primarily by factors with the Russian economy not directly related – Western sanctions and the oil peak. Mark “Brent” cheaper and again in the afternoon stops at the level of below $ 60 a barrel.
“A lot will depend on the fluctuations in oil prices. But I can say, as a participant in this process that the government and the central bank seriously now were in charge to stop this orgy in the currency market, “- says presidential aide Andrei Belousov.
Stop orgy possible – today’s picture is radically different from what happened yesterday. On the market it is called “correction”. The official rate of the Central Bank for tomorrow: the dollar – 67 rubles 79 kopecks, euro – 84 rubles 59 kopecks. Strengthening the national currency occurred, including the following statements by the Ministry of Finance – Ministry begins selling its foreign currency balances in the market. And it will do as much time as needed.
“The volume of foreign currency balances on a single account in the Treasury of the federal budget is about $ 7 billion. It is the means that, in particular, were placed in foreign currency deposits of banks” – According to the Ministry of Finance.
The ruble has reacted and the policy of the Central Bank – from the beginning of a free-floating currency Central Bank of Russia has sold more than 10 billion dollars. Plus yesterday’s intervention when the currency has established a maximum – 80 rubles per dollar and 100 per euro. The controller is thus fulfilled his promise – releasing the ruble float freely, the Central Bank declared its readiness to conduct unannounced interventions. President’s press secretary said today that in the near future may be announced new anti-crisis measures.
“We all know that the day before, and today it is very hard the government, the Central Bank synchronize their actions. We know some of the steps that will be made to normalize and stabilize the situation, and we can assume that in the coming days and will be followed by a series of measures designed to ensure that these negative effects of the crisis to minimize. The reason for cautious optimism “- believes the press Secretary to the President of Russia Dmitry Peskov.
The proposed Central Bank package of seven measures on the currency obviously also affect beneficial. Among the measures, in particular – the bank provides a temporary right to use for the settlement of transactions in foreign exchange rate calculated for the previous quarter. Central Bank also introduced a temporary moratorium on the recognition of the negative revaluation of the portfolios of securities, as well as improves the mechanism of banks currency. Today it became known that the government and the Bank of Russia are preparing measures to recapitalize banks in the next year. Against the background of a slowing economy is also a measure to maintain the ruble exchange rate.
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