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Sunday, January 21, 2018

Russia to continue liquidity restrictions of the ruble

The Central Bank of Russia said Tuesday that it will continue to restrict the liquidity on the ruble to dissuade speculative attacks on the federation's currency.
It said that no further regulation will be placed on speculators themselves. The measures taken will aid the devaluing ruble that was hit especially hard in the end of October and earlier this month. The currency had weathered severe speculative sentiment on the Foreign Exchange Market. Utilizing repo instruments and currency swaps, the bank hopes to stabilize the ruble exchange rate. The most recent rate was 46.25 rubles for every $1 U.S.
Central Bank Chief Elvira Nabiullina said there is no need for restrictions on speculators at a meeting with members of the lower house in the Russian parliament.
“To my mind, the imposition of legislative restrictions is inexpedient at this stage,” Nabiullina said.

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