Russian ruble not in danger of ‘almighty devaluation’ – expert

File Photo of Cash, Coins, Line Graph

(Interfax – MOSCOW, July 9, 2013) The Russian ruble is not in danger of any “almighty devaluation” and Russian citizens have no reason to begin buying large amounts of foreign currency, Ruslan Grinberg, director of the Russian Academy of Sciences’ Economics Institute, said.

“Our world is sinking into total uncertainty. It is a guarantee for high oil prices. In this sense, objective factors are on our side. It seems to me that there is no reason to think of any almighty devaluations. The government has plenty of currency reserves,” Grinberg said at a press conference at the Interfax central office on Tuesday.

There is no need to urgently flock to buy large amounts of foreign currency in the present situation, he said.

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