ALEXEY VEDEV: “CURRENCY REGULATION MEASURES WILL HELP STABILIZE THE RUBLE EXCHANGE RATE”

Alexey Vedev, Doctor of economic sciences, Head of the Financial Studies Department at the Gaidar Institute, shared his opinion on the specific regulatory measures necessary to strengthen the ruble exchange rate. The expert's opinion was published by MK.

Vladimir Putin instructed the Ministry of Finance and the Central Bank to look into the causes of the ruble's weakening and take timely measures to strengthen the exchange rate. According to Alexey Vedev, the Central Bank should have taken measures earlier, so as not to bring the situation to a boiling point.

“Raising the key rate does not count: this measure will not help now, as it has a highly delayed effect. However, in order to equalize supply and demand for the ruble, it would be logical to launch mechanisms of currency regulation. That is, to introduce the rule of mandatory sale of foreign currency earnings, on a temporary rather than permanent basis, temporarily for Q4 of this year and Q1 2024. Secondly, to establish proper control over capital outflow. Then the ruble may well settle in the comfortable for the economy corridor of Rb80-85 per $1.