This is exactly what the latest episode italy telegram data shows. After the first reaction, the rate was corrected back (last weekend, the dollar was already worth less than 100 rubles, — Ed.). Based on the experience of the last two years, we can say that our business responds very flexibly and promptly to external restrictions.
Make a fixed rate? So that there aren’t such sharp
— If the Central Bank tries to hold the rate, and all objective factors work against it, then the Central Bank will have to add currency from its reserves to the market (actively sell currency for rubles to increase demand for the ruble and its rate, — Ed.). And if this trend is long-term (for example, prices for export goods have fallen for a long time), and the Central Bank still tries to maintain the previous rate, then at some point it will simply run out of reserves, and the rate will still fall to where it finds its equilibrium.
Turbulent times, reserves need
Saved for when market events can really threaten financial stability. We do not see such risks and threats now.
*When demand for the ruble grows (ussian companies sell for those who work professionally currency en masse), its rate strengthens. And when companies exchange america email rubles for currency en masse, the Russian currency weakens. This is what Andrey Gangan is talking about: after the sanctions in Russia, demand for currency exceeded supply, and that is why the ruble fell.