Ruble save word verbal intervention

Ruble save the word - verbal intervention is bearing fruit

Yesterday the Russian authorities conducted
almost perfect verbal
intervention to support the ruble. Began
with Vladimir Putin, who said in
Beijing that Russia will not limit
movement of capital and to increase the national debt.
This will allow without extreme
measures to end "speculative leaps"
Russian ruble.

Then the central bank executives said that panic
currency market all lit Exporters
holding back the sale of foreign currency earnings,
importers - buy it in store, plus
in the game for a fall of the ruble involved
banks and the public. But the Central Bank announced
that the exchange rate band for the dollar and
the euro will no longer be, and from currency
Central Bank intervention refuses, though
He promises to hold them, to bring down
high demand in any situation,
threatening financial stability
countries. And finally, on top of that,
the central bank has restricted the provision of
banks ruble liquidity to the
money was not used for the game against
Ruble.

After that, each
"Exciting" the object received his
information. All literally said:
"Calm down" - and everybody calmed down. AND
once the ruble began to grow, and in the evening
He was worth 45.6 rubles. to the dollar - about
on the ruble cheaper than before. Under
evening, have a meeting with the IMF Director
Christine Lagarde, Putin promised that
Currency speculators will be punished -
not criminal, and money: reckless
bet on a weakening of the ruble will lead them
losses.

So, from the point of
of economics and the theory of PR, government
yesterday, did everything right. If
We take such steps before, could
lose much smaller reserves. But
current losses are not comparable with the losses
Of 2008-2009. In addition, the currency now!
speculators pointless to play against
CB (in short): Ever
Central Bank will with their billions on
the foreign exchange market and punish the ruble
pessimists. increased volatility
It remains on the market, but on the basis of
fundamentals, the ruble is now
It should cost 42-46 against the dollar, as did
not 48-50, according to most analysts.
How long will the current "verbal
intervention ", no one knows.

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