The Bank of Russia will closely supervise the ruble exchange rate in order to prevent any significant fluctuations, President Dmitry Medvedev said in an interview published by the Russian leader's press office. He pointed out that the recent drop in the ruble exchange rate could be attributed to lower revenue and an increase in payments in foreign currencies. The president also underlined that the current dollar-to-ruble rate was in line with the national currencies actual standing.
Medvedev reiterated that although the ruble dropped 30-35 percent over the last several months, the country's enterprises and citizens were given a choice of what to do with their ruble savings. With this in mind, the general trust of Russians in the banking system remained unchanged, Medvedev noted. "This is especially important for the country's stability," he concluded.