| Online: | |
| Visits: | |
| Stories: |
| Story Views | |
| Now: | |
| Last Hour: | |
| Last 24 Hours: | |
| Total: | |
Putin says no capital controls in Russia, as currency hits record lows
Friday, October 3, 2014 18:00
% of readers think this story is Fact. Add your two cents.
Russia abolished capital controls in 2006.
One of the Central Bank’s main tasks is to transition the ruble to a free floating currency by 2015, and has loosened monetary controls like currency intervention.
However, President Putin doesn’t rule out more stimuli for the ruble on the path towards a free-floating currency.
“I must say that the Bank of Russia has enough instruments to maintain financial stability. I would also add that the Bank of Russia's transition to a floating rate does not mean overall cancellation of currency interventions,” Putin said.
If the ruble continues to weaken, the Central Bank may decide to restart currency interventions, pumping in billions of dollars to prop up the ruble …. http://rt.com/business
Source:
