Tuesday, December 23, 2014

The ruble is recovering – because of compulsory foreign exchange sales? – Tagesschau.de

The ruble is recovering – because of compulsory foreign exchange sales? – Tagesschau.de

Date: 23/12/2014 11:53 clock

The ruble-decay had recently caused great concern in Russia – but now he is recovering. The euro stood at 66.23 rubles and the US dollar at 54.08 rubles. Early last week, they stood at 100 and 80 rubles. The Russian currency is because of Western sanctions and the comparatively low oil prices under massive pressure.

According to a report in the Russian newspaper “Kommersant” pledged Prime Minister Dmitry Medvedev state corporations to their foreign exchange reserves to support use of the domestic currency. Companies such as Gazprom or Rosneft had been invited by the beginning of March, all to sell foreign currency, which they have accumulated since the beginning of October. This could account for up to 50 billion dollars (41 billion euros). This might come up on the foreign exchange markets to a billion dollars a day. The government in Moscow Commenting on the report not yet

.

Medvedev had called together representatives of the major export companies on Wednesday to 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.

President Vladimir Putin and other government representatives had previously rejected claims by MPs to require businesses to sell currencies. If true -Report of “Kommersant”, this would be a U-turn.

about this topic tagesschau24 reported on December 23, 2014 at 16:30 clock.

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