Bloomberg News

Weakening Ruble Not a Signal of Instability, Siluanov Tells RIA

May 31, 2012

The weakening of the ruble corresponds with the monetary policy of Russia’s central bank, Finance Minister Anton Siluanov told RIA Novosti.

“The ruble exchange rate, which has significantly dropped today, remains inside the limits set by the Central Bank,” Siluanov said. “It’s wrong to talk about instability, risks and a worsening outlook.”

The ruble lost 2.2 percent to 33.48 per dollar by the close in Moscow, extending its monthly drop to 12 percent, the most of 25 emerging-market currencies tracked by Bloomberg and sharpest drop since January 2009.

To contact the reporter on this story: Ksenia Galouchko in Moscow at kgalouchko1@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net


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