VTB Deputy Chairman Pyanov proposed an alternative to the floating ruble exchange rate

The mechanism of the floating exchange rate of the ruble must be replaced by a floating currency corridor. This was announced on December 2 by the first deputy chairman of the bank Dmitry Pyanov in an interview with RBC.

"I think that it is necessary to recognize at least the existence of the problem of ruble exchange rate formation. All of the country's external trading partners — the [Persian] Gulf, China, and India - have either a fixed exchange rate or a highly variable exchange rate. We raise the question — is the floating ruble exchange rate model still correct in the new macroeconomic realities?" — he declared.

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