Russia will take new measures to sustain the ruble, acting president Vladimir Putin announced Thursday, as the currency came under fresh pressure.
Published:
8 January 2000 y., Saturday
Putin gave his backing to a proposal by central bank governor Viktor Gerachshenko who wants to force Russian exporters to sell all their foreign currency through the exchange market. The governor also discussed with Putin a possible lowering of interest rates.
At the moment exporters have to process 75 percent of foreign currency earnings through the officia market. "This proposition goes in the right direction, there are few countries that give their exporters the possibility of keeping" their currency earnings, Putin told NTV television.
"But this decision must be balanced and must be accompanied by a toughening of controls on the exit of currencies. It must not however damage the interests of exporters," he added.
Putin said lowering interest rates would boost the economy, the Russian financial markets and industry.
The ruble fell Thursday to 27.23 to the dollar against 26.95 during the last trading session on December 27. It also fell against the euro to 28.23 rubles from 27.35.
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
European Commission Vice-President Siim Kallas, responsible for transport, today presented to the College a preliminary assessment of the economic consequences for the air transport industry of the volcanic ash crisis.
more »
Boosting economic recovery, investing in Europe's youth and in tomorrow's infrastructures are the priorities of the 2011 draft budget adopted by the Commission on 27 April 2010.
more »
European Competition Commissioner Joaquín Almunia welcomes proposed commitments by Visa Europe to significantly cut its multilateral interchange fees (MIFs) for debit card payments.
more »
Because of the Icelandic volcano, flower growers in Colombia couldn't get their stems to markets in Europe.
more »
The Second Vice President of the Spanish government and Minister of Economy and Finance, Elena Salgado, on Sunday played down the importance of apparent fissures within the EU concerning the Greek financial crisis, expressing her confidence that all countries would support the aid package for this country, which will be accompanied by a tough budget-tightening plan.
more »
Commission launches an information campaign on the CE conformity mark - designed to ease the free movement of goods around Europe and protect consumers.
more »
If Europe's airports ever open again the introduction of new security measures like body scanners will be expensive.
more »
After Eurozone Finance Ministers agreed measures to address Greece’s financial woes last Sunday, MEPs quizzed leading economic figures, including the chairman of Goldman Sachs - former financial advisors to the Greek government - on how to strengthen EU economic governance and improve reporting of national statistics.
more »
The European Tourism Stakeholders Conference, being held in Madrid today and tomorrow, will explore ways and means to strengthen the visibility of tourism at a European level and to verify how the actions to promote a competitive EU tourism industry.
more »
The European Bank for Reconstruction and Development (EBRD), World Bank Group member IFC, and The Netherlands Development Finance Company (FMO) have joined up with the Asia Debt Management Hong Kong (ADM Capital) to establish a regional fund to invest in midsize companies facing financing difficulties as a result of the financial crisis.
more »