Dollar sees dramatic fall

Since the beginning of the week, the dollar rate plunged by RUR0.21, i.e. 0.7 percent, and came to RUR30.62, which is equal to the rate of late January 2002. Such high rates of the ruble strengthening were the first over the last eight years.

Since the beginning of the year, the ruble strengthening amounted to RUR1.26, i.e. over 4 percent. These figures arouse concerns, taking into account a rise in consumer indices. From January to April, inflation jumped 6 percent. The ruble strengthening does not reduce inflation, which is largely affected by other factors, firstly, growth in tariffs of natural monopolies. Nevertheless, according to Russian Deputy Finance Minister Alexey Ulyukayev, fighting inflation remains the first objective both for the Finance Ministry and the Central Bank.

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