head of the Central Bank of the Russian Federation Elvira Nabiullina
The head of the Central Bank commented on the sharp jump in the dollar to 86 rubles. in January. On that day, the Bank of Russia did not notice anything suspicious in the market. The reason for the historic collapse of the ruble could become a delayed effect on oil prices
The reason for the fall of the ruble exchange rate to the historic low of 85.999 rubles. the dollar, which forced the head of the Central Bank to cancel a trip to the World Economic Forum in Davos was the previous fall in oil prices, he said in an interview with Reuters herself, Elvira Nabiullina. No large-scale buying of currency in the interests of a major player, no sharp decline in currency sales volumes from exporters monitoring of the Central Bank has not revealed.
«Most likely, the rate dynamics to a certain extent reflected the deferred effect of falling oil prices in the previous days. A few days before that oil prices have fallen quite rapidly and we ruble showed resistance “- Nabiullina explained
CB Head stressed that the regulator did not take January 21 any special measures that may affect the rate of the ruble. which is closer to the evening went up again after the oil price adjustments. Nevertheless, the situation on the foreign exchange market Bank of tracking.
«Of course, we are at that moment looked for indicators of financial stability associated with the demand for cash currency, foreign currency liquidity as a whole, the density of the foreign exchange market and so on. Risks at the time was not, therefore, refrained from entering the foreign exchange market with interventions “, – explained Nabiullina
Video: RBC
The Chairman of the Bank of Russia has warned that sharp fluctuations the ruble is possible in the future as well as increased volatility in the oil market persists. Overall, however, the market exchange rate, according to the Central Bank, is now close to fundamentally sound, but because the volatility it will gradually decline.
Nabiullina emphasized that the Russians reacted calmly to the second rate reduction wave in January 2016 and not rushed in the exchangers of currency, as it was in December 2014.
«I think it is quite natural. All accustomed to a floating rate. And businesses and people are beginning to realize that the course and can move in one or the other way, and you can win and lose “, – said the head of the Central Bank
January 21, 2016 exchange rate of the dollar set a new historic. record, rising for the first two hours of trading on the Moscow stock exchange by almost 5 rubles. and reaching 85.999 rubles.
Some of the RBC interviewed experts then tied happens that one of the major players purposefully buying up the currency market, while exporters are biding their time.
by the end of the day the dollar retreated from record highs, dropping to 82.63 rubles. and the next day on the background of a sharp rise of oil prices fell more than 3 rubles.
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