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Russia: Rouble not expected to weaken says Head of Bank of Russia E. Nabiullina
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12.09.2015
The rouble is not expected to weaken further, Governor of the Bank of Russia Elvira Nabiullina announced at a press conference in Moscow on Friday. Nabiullina stated that the global oil market has become more sensitive to not only objective factors of supply and demand, but also to subjective expectations and moods that can change rapidly. She added that while oil price volatility is still high, "We see no trend for the further weakening of the rouble.” The Bank of Russia forecasted that the average price for a barrel of oil would remain at around $50 (€44).
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