The Functioning Of The Russian Central Bank: The Ruble And The U.S. Dollar

EMerging Equity

By Inna Novikova

Central Bank of RussiaThe Central Bank of the Russian Federation does not have to support the Russian economy.

There is no paragraph in the Constitution of the Russian Federation (written during the 1990’s) that would tell the Central Bank to act in this manner.  For what purpose did the Central Bank set the Russian ruble free?

In a recent interview, Pravda.Ru asked Yevgeny Alexeyevich Fedorov, a Russian politician whom is the deputy of the State Duma of the Federal Assembly of Russia, for his expert opinion:

“All countries of the world are divided into two large groups. One group is called developed countries, and the other group – developing, or underdeveloped countries, better to say. In the past, underdeveloped countries were called colonies. Economies of all developed countries have one common feature – low interest rates. This is a key point. All underdeveloped countries – there are 90 percent of such countries in the…

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About Ahmed Islamov

I was born and raised in Uzbekistan and lived in that country for about two thirds of my life. I left the country about 14 years ago but sustained tight bonds with my family and friends living there. I know and communicate personally with hundreds of people including blue-, white- or pink-collar workers. I am naturally very attached to and concerned with everything that is going on there.
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