Russia will take new measures to sustain the ruble, acting president Vladimir Putin announced Thursday, as the currency came under fresh pressure.
Published:
8 January 2000 y., Saturday
Putin gave his backing to a proposal by central bank governor Viktor Gerachshenko who wants to force Russian exporters to sell all their foreign currency through the exchange market. The governor also discussed with Putin a possible lowering of interest rates.
At the moment exporters have to process 75 percent of foreign currency earnings through the officia market. "This proposition goes in the right direction, there are few countries that give their exporters the possibility of keeping" their currency earnings, Putin told NTV television.
"But this decision must be balanced and must be accompanied by a toughening of controls on the exit of currencies. It must not however damage the interests of exporters," he added.
Putin said lowering interest rates would boost the economy, the Russian financial markets and industry.
The ruble fell Thursday to 27.23 to the dollar against 26.95 during the last trading session on December 27. It also fell against the euro to 28.23 rubles from 27.35.
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
One of the biggest Finnish introducing broker companies Finnprinters, connecting customers and printing houses, has started joint business projects with Lithuania’s 2 printing houses.
more »
Statistics Lithuania informs that, based on the Labour Force Survey (LFS) data, the unemployment rate in I quarter 2009 reached 11.9 per cent, i.e. was close to the level of the year 2004. Over a quarter, the unemployment rate grew 1.5 times, over a year – 2.4 times.
more »
Lithuania’s Acting Minister of Foreign Affairs Vygaudas Ušackas discussed ways of accelerating the implementation of Rail Baltica in the current economic environment and attracting foreign investments for the implementation of this project.
more »
Proposals for transparency and monitoring to keep gas flowing to the EU.
more »
On a day in which G8 leaders in Italy said the world economy still faces "significant risks," a top White House official said the Obama administration is not discussing a second stimulus plan.
more »
EU proposes microfinance facility to encourage the unemployed to start their own businesses.
more »
For those of you who like your fruit and vegetables to look as crooked, knobbly and curvy as possible 1 July was a good day.
more »
Walt Disney will invest almost half a billion U.S. dollars into its Hong Kong Disneyland, to bolster the park's prospects against a planned rival in Shanghai.
more »
On 26 June 2009 Securities Commission (SC) approved the merge of investment funds controlled by UAB SNORAS Asset Management with SNORAS Global Equity Funds of Funds (SGEFF) by joining JT Baltic Equity Fund I.
more »
Taking into account changes on international and domestic money markets AB DnB NORD Bankas, a member of international financial group, has changed time deposit rates for individual customers.
more »