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Tuesday, December 6, 2022
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CURRENCY EXCHANGE RATES

RUB - Russian Ruble
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66.2844
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63.1650

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Key interest rate up to 20%

The Bank of Russia urgently raised the key rate to 20% from the previous 9.5%. The regulator explained the decision by a fundamental change in external conditions for the Russian economy and said that the rate increase would help maintain financial and price stability and protect household savings from depreciation.

Among the theses of the speech of the head of the Central Bank, Elvira Nabiullina, is that the Russian economy and financial system are facing a non-standard situation, therefore, the Bank of Russia will take a non-standard approach to its further decisions taken underway.

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