Nabiullina: Foreign exchange restrictions will affect the ruble exchange rate in the short term
MOSCOW, October 27 – RIA Novosti. Elvira Nabiullina, head of the Central Bank of the Russian Federation, said that currency restrictions will affect the ruble exchange rate only in the short term, then the main factors will be monetary policy and trade dynamics.
“In general, in our opinion, restrictive measures can only work for a short period of time and somewhat accelerate the impact of fundamental factors. In the future, the exchange rate will be affected by tight monetary policy, which cools aggregate demand, including demand. For imports in ruble terms “The exchange rate is the same “It will also be affected by changes in prices and physical volumes of exports, as well as the relevant dynamics of the trade balance,” he said.
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