Central Bank Has Enough Forex Reserves to Prevent Russian Rouble From Fluctuating - 20 March, 2003 - News

The Central Bank's hard currency reserves allow it to prevent "considerable fluctuations in the rouble's exchange rate" in the near future due to the situation around Iraq, said Central Bank head Sergei Ignatyev at a meeting with Vladimir Putin in the Kremlin on Thursday.

"We in principle are prepared for any developments," Ignatyev said.

In his view, it is premature to make a longer-term forecast, but, as Ignatiev believes, the fluctuations will be insignificant.

Putin wanted to know how events connected with Iraq could tell on Russia's macro-economic performance.

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