Russia says rouble is volatile but in line with expectations
Adds Reshetnikov's quote in para 9, background in para 7
MOSCOW, Oct 22 (Reuters) -The Russian rouble's current exchange rate volatility is high but the rate remains in line with the government's expectations, Interfax news agency quoted Economy Minister Maxim Reshetnikov as saying on Tuesday.
The official exchange rate of the rouble has fallen 13% against the U.S. dollar since Aug. 6, when the Ukrainian army's incursion into Russia's Kursk region triggered a slide against all major currencies, including China's yuan.
The rouble approached the 100 mark to the dollar on Oct. 15 but has since then regained some ground, backed by increased forex sales by the state in October and expectations of an interest rate hike by the central bank at the Oct. 25 meeting.
In rare official public comments on the exchange rate, Reshetnikov blamed Western sanctions, which halted stock exchange trading in dollars and euros, for the increased volatility of the Russian currency.
"We understand that volatility has increased significantly because there is no exchange mechanism, and consequently, no financial institutions to smooth it out," Reshetnikov was quoted as saying.
Western sanctions, imposed on the Moscow Stock Exchange (MOEX) and its clearing agent, the National Clearing Centre, on June 12, made China's yuan the most-traded foreign currency in Russia while trade in dollars and euros has shifted to the over-the-counter (OTC) market, obscuring price data.
Reshetnikov added that in such circumstances any large purchases of foreign currency by exporters or importers immediately caused volatility, and a certain capital outflow due to corporate debt payments also contributed.
He also complained about the need to collect diverging data from forex-trading banks as one of the factors behind volatility.
Reshetnikov said that the current exchange rate was in line with the government's macroeconomic forecasts which see the rouble at an average rate of 96.5 to the dollar, around current levels, in 2025 and at 100 in 2026.
"Fundamentally, the situation is developing as we predicted," said Reshetnikov, stressing that foreign trade flows as well as export revenues were still strong despite the recent cross-border payment problems with some countries.
Reporting by Gleb Bryanski; editing by Jason Neely, Kirsten Donovan, William Maclean
Aloqador aktivlar
Eng oxirgi yangiliklar
Javobgarlikdan voz kechish: XM Group korxonalari har biri faqat ijro xizmatlarini koʻrsatadi va onlayn savdo platformamizdan foydalanish huquqini beradi, bu odamga veb-saytda yoki veb-sayt orqali mavjud boʻlgan kontentni koʻrish va/yoki undan foydalanishga ruxsat beradi hamda uni oʻzgartirishga moʻljallanmagan va uni oʻzgartirmaydi yoki kengaytirmaydi. Bunday kirish va foydalanish huquqi doimo quyidagilarga boʻysunadi: (i) Shartlar va qoidalar; (ii) Risklar haqida ogohlantirish; va (iii) Javobgarlikni toʻliq rad etish. Shuning uchun bunday kontent umumiy maʼlumot sifatida taqdim etiladi. Xususan, shuni esda tutingki, bizning onlayn savdo platformamiz mazmuni moliyaviy bozorlarda biror bitimni amalga oshirishga oid maslahat yoki taklif emas. Har qanday moliyaviy bozorda savdo qilish sizning kapitalingiz uchun jiddiy risk darajasini oʻz ichiga oladi.
Onlayn savdo platformamizda chop etilgan barcha materiallar faqat taʼlim/axborot maqsadlari uchun moʻljallangan va unda moliyaviy, investitsiya soligʻi yoki savdo maslahatlari va tavsiyalar; yoki bizning savdo narxlarimizning qaydlari; yoki har qanday moliyaviy vositalar bilan bitim tuzish maslahati yoki taklifi; yoki sizga kerak boʻlmagan moliyaviy reklama aksiyalari hisoblanmaydi
Har qanday uchinchi tomon kontenti, shuningdek XM tomonidan tayyorlangan kontent, masalan: fikrlar, yangiliklar, tadqiqotlar, tahlillar, narxlar va boshqa maʼlumotlar yoki bu veb-saytda joylashgan uchinchi tomon saytlariga havolalar umumiy bozor sharhi sifatida "boricha" taqdim etiladi va investitsiya maslahatini tashkil etmaydi. Har qanday kontent investitsiya tadqiqoti sifatida talqin qilinsa, siz bunday kontentni investitsiya tadqiqotlarining mustaqilligini ragʻbatlantirish uchun moʻljallangan qonun talablariga muvofiq moʻljallanmagan va tayyorlanmaganligini eʼtiborga olishingiz va qabul qilishingiz kerak, shuning uchun unga tegishli qonunlar va qoidalarga muvofiq marketing kommunikatsiyasi sifatida qaraladi. Mustaqil boʻlmagan investitsiya tadqiqoti va yuqoridagi maʼlumotlarga oid risk haqida ogohlantirishimizni oʻqib chiqqaningizga va tushunganingizga ishonch hosil qiling, unga bu yerdan kirish mumkin.
