7 Apr 2021 14:41

Current ruble exchange rate volatility has no impact on economic stability as whole - Peskov

MOSCOW. April 7 (Interfax) - The current volatility of the ruble exchange rate in the markets has no significant impact on the country's economic stability, the government and the Central Bank are keep the situation under control, presidential press secretary Dmitry Peskov told reporters.

"In general, the macroeconomic situation is absolutely stable, predictable, such exchange rate volatility has happened before, there were different reasons - speculative and non-speculative in nature, but it does not affect economic stability in general," Peskov said when asked whether the Kremlin believes that the escalation of the conflict in Donbass could be a blow to the Russian economy and the well-being of citizens.

"Of course, the heightening of tensions in the vicinity of our borders is a factor which has a rather negative emotional impact on the markets. Unfortunately, this is a common practice," he said.

However, the government is in control of the situation, Peskov said.

"I think that after all, our relevant agencies - the government and the Central Bank - are keeping the situation under control," he said when asked if there was a risk of another "black Tuesday similar to 2014, when the exchange rate plunged due to the situation in Donbass.