9 Dec 2009 11:08

Dvorkovich: no systemic risks from ruble weakening

MOSCOW. Dec 9 (Interfax) - Russian presidential aide Arkady Dvorkovich said recent ruble weakening was compensating for the ruble's earlier steep rise.

"This is a completely normal, partial compensation for the rapid growth in the exchange rate that took place. I said yesterday that I don't see any systemic risks. The Central Bank has reserves sufficient to smooth out all fluctuations," Dvorkovich told journalists on Wednesday.

The Central Bank's bicurrency basket ($0.55 and 0.45 euro) has increased in value by 2.2 rubles in the past three weeks. On Wednesday morning the basket was at its highest level since September 9.