Russian government will not guarantee total flexibility of ruble rate in conditions of superhigh oil prices - Kudrin

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WASHINGTON, September 25 (RIA Novosti) - The Russian government does not intend to guarantee total flexibility of ruble rate in the conditions of superhigh oil prices, the finance minister said."We will preserve a controllable floating ruble rate," Alexei Kudrin told a news conference in Washington.

He said it would be inexpedient to make the ruble rate totally flexible in the conditions of superhigh oil prices.

"It would mean that the ruble rate would follow oil prices," he said. "If oil prices grow it will be consolidated and if they fall it will be weakened."

In these conditions the interference of the Central Bank in the currency market will compensate for the pressure of the great flow of petrodollars, the minister said.

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