Contents tagged with fixed exchange rate
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Deputy Chair of Duma's Economic Committee Proposes Fixed Exchange Rate
The Deputy Chair of the Economic Committee of the Russian Duma, Sergey Kalashnikov, told RIA Novosti that the Russian Central Bank has to cancel the convertibility of the Ruble and set a fixed exchange rate in relation to the dollar and main reserve currencies. The preferable rate would be 40 rubles per dollar.
According to Kalashnikov, if the exchange rate is fixed, a black market in currency exchange would inevitably emerge in the country. However, that would not be as harmful to the …