Gref named comfortable ruble

Gref named comfortable ruble

Sberbank President German Gref in an interview with Bloomberg called the current exchange rate is too low.

According to him, for the companies, the state budget and the banks would have been more comfortable level of 60 rubles per dollar. He added that a strong currency is good for Russian exports, but prevents the procurement abroad, necessary for modernization.

At the moment, the dollar CBR official exchange rate of 70.54 rubles. Over the past few weeks, he dropped to a mark of 80 rubles, helped by a rise in oil prices on the world market.

March 2 Deutsche Bank called the ruble the most undervalued currency in Europe. The institution noted that the Russian economy is recovering. In addition, Russia – the only one of the developing countries, which increased the international reserves of the 19th of February. An additional factor supporting the ruble – an agreement with OPEC to freeze oil.

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