Russia's Forex Market: No Panic Outlook

Russian Economic Developments. Moscow, 2016, No. 1, pp. 7-9

3 Pages Posted: 24 Jan 2016

See all articles by Alexandra Bozhechkova

Alexandra Bozhechkova

Gaidar Institute for Economic Policy; Russian Presidential Academy of National Economy and Public Administration (RANEPA) - Institute of Applied Economic Research

Pavel Trunin

Gaidar Institute for Economic Policy

Date Written: January 23, 2016

Abstract

The Bank of Russia on 11 December 2015 decided to keep the base interest rate unchanged at 11%, thus indicating that the bank will not move forward with easing monetary policy. Russia’s Central Bank on 14 December resumed 12-month foreign exchange repo auctions with a view to pushing down demand for foreign currency. Thus, the Bank of Russia aims to avoid turbulence in Russia’s financial markets, which may occur in response to a new downturn of oil prices amid raised Fed target rates.

Keywords: Russian economy, Forex market

JEL Classification: P24, E52

Suggested Citation

Bozhechkova, Alexandra and Trunin, Pavel, Russia's Forex Market: No Panic Outlook (January 23, 2016). Russian Economic Developments. Moscow, 2016, No. 1, pp. 7-9. Available at SSRN: https://ssrn.com/abstract=2720774

Alexandra Bozhechkova (Contact Author)

Gaidar Institute for Economic Policy ( email )

Gazetny pereylok 3-5
Moscow, 125993
Russia

Russian Presidential Academy of National Economy and Public Administration (RANEPA) - Institute of Applied Economic Research ( email )

Russia

Pavel Trunin

Gaidar Institute for Economic Policy ( email )

Gazetny pereulok, 3-5
Moscow, 125993
Russia

Here is the Coronavirus
related research on SSRN

Paper statistics

Downloads
15
Abstract Views
324
PlumX Metrics