Economy News

Russian cenbank says wants rouble rate to be determined by market

(Reuters) – The Russian central bank has imposed foreign exchange controls to support liquidity but aims to preserve market pricing principles and a rouble exchange rated determined by the market, the bank’s first deputy governor said on Friday.

Ksenia Yudayeva said the Russian economy and its financial sector were in good shape before Feb. 24, and now many companies were experiencing the need to find new suppliers and logistics.

The Russian financial sector and economy have taken a hit from sweeping western sanctions imposed over what Moscow calls a “special military operation” in Ukraine.

Source : Reuters

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