Quote.rbc.ru 05.08.2015 15:19
“The decline in oil prices, the decision of the Bank of Russia and the US Federal Reserve on interest rates It led to another wave of devaluation of the ruble. In the coming months, Russian companies and banks may face a shortage of currency in the domestic market “, – said in a bulletin NRU” Higher School of Economics “for the period from 23 July to 4 August. According to the authors, the Bank of Russia in May, has worked to weaken the national currency, buying from 14 May to $ 200 million a day. Total was purchased about $ 10 billion, which significantly exceeded the inflow of foreign currency on current operations and increased pressure on the ruble. The policy of the Central Bank, according to experts School of Economics, was not aimed at the desire to stimulate the exporters, and the repayment of foreign debts and the withdrawal of capital abroad. The Bank of Russia did not go to the depreciation of the mark of 65 rubles. per dollar, to compensate for the decline in oil prices and replenish the budget to the level of late 2014 – early 2015. July 28 the Bank of Russia stopped to buy foreign currency, hoping to designate the currency corridor in the range of 50-60 rubles. per dollar, and thereby prevent the buying of hard currency earnings by exporters and sticking. However, the further statement of the US Federal Reserve plans to leave the rate unchanged at a decision to reduce the key rate by the Bank of Russia led to the fact that the dollar exchange rate has exceeded 62 rubles. The study authors predict that in the context of the economic crisis, the Bank of Russia in August and September may face new challenges. External debt (in September at the peak of payments will reach $ 14 billion) and the accumulation of exchange companies and banks will force the regulator to release or re-ruble “float freely”, or to meet the demand for foreign currency at the expense of the accumulated reserves.
Artem Filipenok
material RBC
Photo: Yekaterina Kuzmina / RBC
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