MOSCOW, August 14State Duma deputy Dmitry Kuznetsov («A Just Russia — For Truth») asked the head of the Central Bank Elvira Nabiullina to explain the reasons for the fall of the ruble and the consequences of this, follows from the corresponding letter, the text of which is available.
The dollar exchange rate on Monday exceeded 101 rubles. On Friday, Central Bank Deputy Chairman Alexei Zabotkin said that the regulator sees no risks to financial stability due to the situation with the weakening of the ruble. Then he noted that the probability of raising the key rate of the Central Bank of the Russian Federation in September is high and has not decreased since the July meeting. On Monday, the press service of the Bank of Russia said that the regulator still sees no threat to financial stability from the depreciation of the ruble, at the next meetings it admits the possibility of raising the key rate.
Kuznetsov, in an address to the head of the Central Bank, notes that, according to experts, the ruble has weakened against the dollar by 30% in 2023, and «many economists say that by the end of the current financial year, inflation could rise to 15%, and the real one will grow even more. more». He himself expressed concern about a possible rise in prices for consumers, especially for imported goods, «which continue to occupy about 40% of the consumer basket of Russians — from food to household appliances.»
«Based on the foregoing, I ask you to provide an explanation for the voters about the reasons for the depreciation of the ruble and the consequences expected from this fall, in order to warn Russians about possible high inflation and rising prices in the country» , — wrote Kuznetsov.
In a commentary, the deputy suggested returning “to the measures of a year ago, popularly called the Mishustin-Belousov measures.” “Let them do what happened a year ago in March-April 2022. And that's it. The course will return to 65-70,” Kuznetsov believes.