26 November 2003 22:42
Russia should transfer to floating exchange rate in a few years - CBR
The Russian economy is in a stage of modernization, during which
it requires a high rate of investment growth, he said. Objective
MOSCOW. Nov 26 (Interfax) - The Central Bank of Russia says the country needs to transfer to a floating exchange rate
in a few years, Central Bank First Deputy Chairman Oleg Vyugin said at a debt management conference on Wednesday.
national currency appreciation in these circumstances will stimulate the influx of investment. "More objectively
valued Russian assets, with the exception of the economic sector that is completely oriented toward export, will help
trigger a large influx of investment," Vyugin said. [RU ASIA EUROPE EEU EMRG FRX BNK CEN] me <>
[CEIW] |
RUSSIA IN FACTS
