Russian Central Bank has no plans of giving up floating ruble rate

The Bank of Russia does not plan to abandon the floating ruble rate and influence the rate level, press service of the regulator told TASS on Thursday.

The Bank of Russia does not plan to abandon the floating ruble rate and influence the rate level, press service of the regulator told TASS on Thursday.

"The Central Bank does not plan to abandon the floating rate and has no plans of influencing the rate level. The floating rate is the built-in economic stabilizer that has proved its efficiency. The floating rate is the mechanism making it possible to balance interests of various economic entities, importers and exporters in particular," the bank said.

The ruble is too strong now which results in Russian export growth slowdown, Russian presidential aide Andrei Belousov said earlier on Thursday.

The dollar fell 27% against the ruble from the year beginning, along with gradual reduction of volatility. The ruble rate against the dollar remains in the range of 63-67 rubles per dollar in April - July.

First published by TASS.

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