Russia has all tools to ward off instability, central bank chief says

Russia has all tools to ward off instability, central bank chief says
January 22, 2016 - 14:46 AMT

PanARMENIAN.Net - Russia's central bank chief on Friday, January 22 said the authorities have all the tools needed to ward off instability as she sought to calm the markets after a rollercoaster week that saw the ruble hit a new low against the dollar, AFP reports.

"We have all the means to be proactive and prevent threats to financial stability in advance," Elvira Nabiullina was quoted as saying by RIA Novosti news agency at a finance ministry meeting, insisting the bank was "closely following the situation on the market."

Russia's ruble on Thursday continued to plummet to new record lows against the dollar, tumbling by over 4 percent beyond 85 to the greenback on falling oil prices.

The ruble - which has already been battered over the past 18 months by low energy prices and Western sanctions over Ukraine - also weakened to over 93 against the euro.

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AFP. Russian central bank chief says has 'all means' to curb instability
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