Russian President Vladimir Putin has reassured citizens that there is no cause for alarm regarding the recent decline of the ruble, attributing the fluctuations to seasonal factors and budgetary spending. Despite a significant drop of over 7% against the dollar in the previous session, the ruble has shown signs of recovery, supported by the Russian Central Bank's intervention in the currency market.
Putin emphasized that the current inflation rate stands at 8.5%, and he believes the situation is manageable. He noted that the Central Bank's data on inflation is accurate and reflects the economic conditions in Russia.
The Moscow Stock Exchange has also seen a rebound, as investors seized the opportunity to buy shares following the ruble's decline. The Central Bank's decision to halt the purchase of foreign currencies has further contributed to the ruble's recovery, with the dollar exchange rate set at 108 rubles.
