Oil is not a very reliable defender of the ruble

Foreign Exchange Market Finansy11-08-2009 Oil is not a very reliable defender of the ruble in Russia are increasingly talking about a possible devaluation. Finance Minister Alexei Kudrin had to speak in defense of the national currency. He assured that as long as oil is expensive, hack at all uneasy. Recently, however, the ruble weakened, despite high prices for raw materials. Until the end of the year devaluation of 20-25% still possible, expressed his opinion Bigness.ru Professor of Graduate School of Economics, Vladimir Evstigneev. About Emergency devaluation recently spoke with increasing frequency. A few days ago, the public was alarmed at the proposal of Anatoly Aksakov, head of the Association of Regional Banks of Russia, member of the National Banking Council (NBS) and one of the leaders of A Just Russia. On his blog, Aksakov offered sharply devalue the ruble by 30-40%, to help the industry ". In his opinion, benefit from it all: "The products will be competitive, factories earn, there will be jobs," the banks will come on the debts of enterprises, and business debt will depreciate. However, Aksakov acknowledged that the negative effect of such measures will be inflation. Now, Vice Premier, Finance Minister Alexei Kudrin, who heads the NBS had to speak in defense of the national currency.