Bloomberg: Russia is able to defend the ruble

© RIA Novosti / Natalia to Seliverstova in fotobanka dollar on the scoreboard, the currencyBloomberg: Russia is able to defend the ruble© RIA Novosti / Natalia to Seliverstova the image Bank

Russia has many possibilities to defend its national currency due to large foreign currency reserves and one of the lowest public debt levels in the world, says Bloomberg.

As underlined by the Agency, despite the depreciation of the ruble, the Russian Central Bank can take advantage of adjustment in interest rates to strengthen the currency.

The Bank of Russia and the Treasury, emphasizes Bloomberg, have already made some important steps have been suspended daily purchase of foreign currency and canceled weekly auctions for the sale of the bonds. Given that at the moment the country’s public debt is only 13% of GDP, Russia has enough possibilities for maneuvering, the Agency says.

Bloomberg also reminds us, on Russia’s international reserves reach $ 460 billion, with additional support for the rouble has sustained rise in oil prices.

In addition, yields on Russian ten-year Treasury bonds rose almost to 9.1%, and their real profit — one of the highest in the world, so sanctions have not led to the Exodus of foreign investors, concludes Bloomberg.

The official Euro to ruble set by the Central Bank on Friday — 79,3685 of the ruble, the dollar — ruble 68,2505. The cost of the currency basket — 73,2536 of the ruble.

Earlier, the head of the Ministry Maxim Oreshkin reminded that the ruble is not included in the list of the weakest currencies.

The. drew attention to the weakening of the national currencies of countries such as Argentina, Turkey, South Africa, Brazil and India. He also stressed that the Agency does not see long-term reasons for the weakening of the ruble.

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