Central Bank Governor of Russia Talks About the Impact of Floating Exchange Rate Hedging on Sanctions

Nabiyulina: Floating exchange rate has largely hedged the impact of sanctions

Astana, November 14 -- TASS

Elvira Nabiyulina, head of the Central Bank of Russia, said at the Kazakhstan Financial Forum that the floating exchange rate mechanism has largely helped hedge the impact on the Russian economy from sanctions in 2022.

She stated, "Despite the huge impact in 2022, our economy still achieved a rapid recovery. <...> We maintained very flexible macroeconomic conditions, including implementing a floating exchange rate system. I believe this system has largely absorbed the impact that has occurred."

In February 2022, Western countries began to impose unprecedented sanctions on Russia. The first restrictive measures were introduced following Russia's recognition of the independence of the Donetsk People's Republic and the Luhansk People's Republic on February 21, 2022.

Original article: www.toutiao.com/article/1848747228146704/

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