Putin: CBR will fend off speculators, volatility on forex market will abate

The actions of the Central Bank of Russia will make it possible to reduce the volatility on the forex market that has been created by speculators, President Vladimir Putin said.

The actions of the Central Bank of Russia will make it possible to reduce the volatility on the forex market that has been created by speculators, President Vladimir Putin said.

"We are currently seeing speculative jumps in the exchange rate, but I think that this should stop soon, meaning the actions that the Central Bank is taking in response to the actions of speculators," Putin said at the APEC business summit in Beijing.

He said that the events on the forex market in recent weeks are "absolutely not related to fundamental economic reasons," and "equilibrium will come" soon.

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