Media: The authorities are discussing the possibility to weaken the ruble – Rosbalt.RU

February 10, 2016, 22:08 | Ministry of Finance | ruble | crisis | depreciation

 The government and the Bank of Russia may cohere in the solution of the problem of the budget deficit at the expense of the informal targeting the ruble. It is reported by Reuters, citing sources in the government.

 According to the newspaper, the authorities are discussing the possibility of covert determining the desired level of the ruble, which will allow to partially compensate for the loss of the federal budget from the drop in oil prices. To this end, the Central Bank will need assistance in the form of calibration of rates and the volume of its foreign exchange operations, despite the formal independence of the Central Bank from the Government.

 In any case, the government is not going to publicly set any targets for the ruble to address budget problems, writes Reuters. According to one source, to affect the exchange rate favorable for the budget side, the Bank of Russia does not necessarily return to the public targeting the ruble. It is enough to adjust the speed and volume of transactions in the foreign exchange market.

 Meanwhile, the Ministry of Finance stated that “does not discuss, and does not allow for targeted weakening of the ruble,” reports “Rain».