MOSCOW, 27 OctExchange restrictions will affect the ruble exchange rate only in the short term, then the main factors will be monetary policy and trade dynamics, said the head of the Central Bank of the Russian Federation, Elvira Nabiullina.
«In general, in our opinion, restrictive measures can only work for a short period of time, somewhat accelerating the impact of fundamental factors. In the future, the exchange rate will be affected by tightening monetary policy, which cools aggregate demand, including demand for imports in ruble terms. The exchange rate will also be affected by changes in prices and physical volumes of exports, as well as the associated dynamics of the trade balance,» she said.