Russian Bank System Stable despite Change in Ruble Exchange rate : Official

Russia’s banking system feels stable despite significant change in the ruble’s exchange rate, Central Bank head Elvira Nabiullina revealed on Monday.

Russia’s banking system feels stable even under considerable changes in the ruble’s exchange rate, Central Bank head Elvira Nabiullina said Monday. © RIA Novosti. Ruslan Krivobok

“Even under the considerable changes in the falling exchange rate [of the ruble], our banking system feels quite stable,” Nabiullina said during an interview on Russia’s Rossiya-24 television.

She added that Russia has a solid currency buffer especially for the short-term situation.