the Ruble may not collapse after oil, according to a former presidential adviser and current Minister of the Eurasian economic Commission (EEC) Sergei Glazyev. According to him, the March collapse of the domestic currency – on the conscience of the Central Bank: the regulator did not oppose speculators that use of robots in exchange trade.
a Long-standing and consistent critic of the Central Bank, the eye will have noticed that the currencies of many other oil-producing countries, including Saudi Arabia, did not fall. For example, the exchange rate of the Saudi Riyal is almost not changed, remaining at a level close to 3.75 Riyal per dollar. As for the ruble, according to Glazyev, in a pandemic COVID-19 the policy of free floating exchange rate there are “nightmarish” consequences. The government tries to stabilize the situation, to avoid shortages, but, according to the EEC Minister, the fall of the ruble has led to panic buying by the population of products and commodities. “People are afraid that tomorrow it will cost more”,— said the economist.
the eye is convinced that the positions of the Russian currency are undermining the speculators. They do this by using the robots that are configured on oil prices: “as soon As the falling price of oil, immediately turned on the speculation wave of the algorithms, which builds expectations for a devaluation of the ruble.” Well, the Bank of Russia does not fulfill its “constitutional responsibility to ensure the sustainability of the course.”
meanwhile, according to the head of IAC “Alpari” Alexander Razuvaeva, the best tool for the currency market than the stock exchange, yet nothing came up. And the Central Bank supports the ruble in the budgetary rules, selling the currency. But tough set up course of, how it happened until November 2014, today would be absolutely wrong, says the expert. In addition, the weakening of the ruble, partially offset oil drop in oil prices. Because their sales are largely in dollars and euros, and expenses and debts in rubles. “Without speculators there is no market, – says Razuvaev, They buy risk, providing liquidity. Otherwise, the premium for the low liquidity of the foreign exchange market will lay in the cost of imported goods. And it would pay the average consumer”.
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