Date: 23/12/2014 15:20 clock
The Russian government intervenes in the fight against the ruble exchange rate decline to new resources. Five of the largest state-owned exporters are obviously encouraged to take a part of their foreign exchange reserves to market. The report Reuters and the Russian business newspaper “Kommersant”.
“Of course it is up to the company to keep the hard currency too,” Reuters quoted a government official. “But then we reserve the right not to help them if they have a hard time.” Are affected, according to the reports of the energy companies Gazprom, Rosneft and diamond producer Alrosa and crystal. You should to March 2015 trace their currency holdings to the level of the beginning of October. Until then, they would have their weekly inventory report of the Central Bank.
A billion dollars a day?
According to “Kommersant” it could to a total of 50 billion dollars (41 billion euros) go. So come up to a billion dollars a day on the foreign exchange markets.
The actions of the Russian government mean a change of course. President Vladimir Putin and other government members had capital controls until now repeatedly rejected. The government in Moscow commented on the reports but not officially.
The ruble is doing better
The ruble recovered according to reports significantly. In the early afternoon had to be paid for one US dollar around 54 rubles. In recent days, there were times 80 rubles – in the first half, however, only 30 to 35 rubles
The central bank sent, according to four banks own overseer in the foreign exchange departments of the largest Russian. banks. “We need to talk about all of our activities,” Reuters quoted an executive of a major bank: “They are very meticulous.” A government official defended the action against the news agency: “There was panic, it had to be done, and we have taken some steps..”
class = “subtitle small”> Medvedev warns of severe recession
The ruble crash was triggered but the crude oil price decline of western sanctions for Ukraine crisis and, above all. This is the main export commodity of the country. This fueled the fears of a government default and unsettled markets.
Prime Minister Dmitry Medvedev said, according to a report by the Russian news agency RIA, he feared a severe recession in his country. After forecast the central bank’s gross domestic product could 2015 shrink by about 4.5 percent.
Only on Wednesday Medvedev had called together representatives of the major export companies to discuss measures against the fall of the ruble , The central bank announced talks with export company with a stabilization of the foreign exchange market. Regular sales of foreign currencies during the year are also in the interests of corporations.
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