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. Last Updated: 07/27/2016

Central Bank Sees Firm Ruble in 2000




The Central Bank expects the ruble to be steady in 2000, the bank said in a 2000 credit and monetary policy draft obtained by Reuters on Wednesday.


It did not give any concrete figures for the rate.


Russia's trade balance, seen by the Central Bank as satisfactory in 2000, will be the key factor for ruble strength, the document said.


"According to 2000 forecasts, the situation in this area will be rather favorable for Russia, which will mean that the volume of hard currency inflows from foreign trade will surpass the outflows," the draft said.


"If foreign debt problems are settled, that will lay the grounds for a real and, maybe, nominal strengthening of the ruble."


The ruble has been unruly this year. Just Tuesday, the currency plunged to a fresh all-time low of 25.90 to the dollar, but then it strengthened Wednesday when the Central Bank set the official rate for Thursday at 25.78.


The ruble plunged to a current 25 per dollar from around 6 before the crisis.