An attempt to control the ruble exchange rate could lead to a financial crisis. This was announced on Wednesday, April 12 by the Chairman of the Central Bank of the Russian Federation Elvira Nabiullina in the State Duma.
“We know from the experience of our country that an attempt to control the exchange rate leads to sharp devaluations, in fact, to financial crises,” the head of the Bank of Russia said.
Elvira Nabiullina added that the regulator aims for a stable foreign exchange market. A stable exchange rate of the national currency will contribute to the establishment of low inflation.
The head of the Central Bank also named the reason why the ruble has weakened lately: this is due to lower exports and lower oil prices.
Also read: Nabiullina: Currency restrictions cannot be completely reversed now.
Read the Latest Sports News Today on The Eastern Herald.
