Donetsk, Aug 14 — DAN. The factors that contributed to the weakening of the ruble have largely exhausted themselves, and the Bank of Russia might take measures in the nearest future to strengthen the national currency, head of the Russian parliament committee on financial market Anatoly Aksakov told the Donetsk News Agency on Monday.
“The imports that sagged after the beginning of the special operation (SVO) are quickly recovering to the pre-SVO levels. From this viewpoint, this factor will no longer put pressure on the ruble. To stabilize the situation, Russia’s Central Bank is likely to raise the key rate at the next session again, and then it will start decreasing it gradually, ” Aksakov said.
He said that the Central Bank might make a decision on mandatory sale of foreign currency earnings by exporters.
“At the beginning of the special military operation, a decision was made to let exporters keep their foreign currency earrings and find other import options. These issues are now settled, and mandatory sale of foreign currency earnings might resume, but not necessarily in full measure, ” Aksakov said.
The government fully controls the rule rate, he said.
On Monday, the ruble-to-dollar rate at the Moscow Currency Exchange topped 100 rubles for the first time since March 23, 2022; the euro trades at some 110 rubles.*jk