Russia Preparing Long-Term Plan to Reduce Ruble Volatility

The Russian government along with the Central Bank are preparing a joint strategy to tackle ruble long-term volatility, Russia's First Deputy Prime Minister Igor Shuvalov told Bloomberg on Thursday.

MOSCOW (Sputnik) — Shuvalov said the government would work with the Central Bank on the development of common approaches aimed at reducing the long-term volatility of the ruble as its volatility hurt the exporters, not allowing them to plan business in advance.

He added that the Ministry of Finance, the Ministry of Economic Development and the Bank of Russia were jointly discussing proposals on the government's system of interaction with the Central Bank in case of oil prices deviations from the budget levels.

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