Siluanov did not support the idea of establishing a currency corridor in the Russian Federation

On December 2, Russian Finance Minister Anton Siluanov, on the sidelines of the investment forum "Russia is Calling!", declared the unacceptability of establishing a currency corridor for the ruble, calling the floating exchange rate one of the foundations of macroeconomic stability.

"If borders are set, then, accordingly, they must be maintained, which means that either interventions or purchases on the market by the Central Bank are needed, and this leads to a non-market status of the ruble...> I will not be able to support Pyanov's proposal to establish borders," Siluanov said, commenting on the proposal of Dmitry Pyanov, First Deputy president and Chairman of the Board of VTB Bank, as quoted by RIA Novosti.

Siluanov stressed that the current ruble exchange rate is the average between the previously passed levels of 60, 70 and 100 rubles per dollar. In his opinion, fixing the borders will require market interventions and deprive the ruble of market status, as well as undermine achievements in the field of inflation targeting, floating exchange rates and budget rules.

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Earlier in the day, it was reported that Pyanov, on the eve of the 16th VTB investment Forum "Russia is Calling!", demonstrated a one-act play based on William Shakespeare's "A Midsummer Night's Dream," the plot of which is related, among other things, to the ruble exchange rate formation. It was noted that among the actors declared the lord of the spirits Oberon, the patroness of the fairies Titania, the fallen spirit, the former virtue Inflation, as well as the Elf in the "blue pants" (upstart nerdy).

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