Reuters logo
Russia welcomes weaker rouble if market-driven - Siluanov
June 18, 2013 / 9:07 AM / 4 years ago

Russia welcomes weaker rouble if market-driven - Siluanov

MOSCOW, June 18 (Reuters) - Russian Finance Minister Anton Siluanov told Reuters on Tuesday he would welcome a weakening of the rouble’s exchange rate as long as it is market driven, saying it would boost the economy’s export competitiveness and budget revenues.

He described a new mechanism by which the Finance Ministry will manage windfall oil revenues, to be introduced in August, as neutral for the market. But, he added, some rouble weakness would offer a welcome antidote to a slowing economy.

“The Finance Ministry would accept a certain weakening of the rouble’s exchange rate, but only as long as it is driven by the market and not by administrative methods,” Siluanov said in comments emailed to Reuters.

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below