Sometimes it seems that the Central Bank of Russia is the last haven of incurable optimists. No matter what kind of problems the Russian financial system faces, the central bank's specialists always have a positive outlook. So, the Central Bank of Russia has good news even during darkest times.
In this difficult for the Russian currency time, the CBR experts saw signs of ruble’s maturity. But what does “maturity” mean? According to Director of the ECB Monetary Policy Department Igor Dmitriev, 20 years ago only foreign currencies were considered real money by Russians, while the ruble was called "wooden." However, now the situation has changed. According to the central bank's research, the Russians no longer use foreign currencies as much, and its role in the country's economy has significantly decreased. The idea that the Russians recently simply do not have funds to buy foreign currency did not cross their mind.
Optimists believe in statistics. If people use, buy and sell the US dollars and euros less, it means they are disappointed in the foreign currency and opted for the "mature" ruble. Generally speaking, there is no reason to worry or panic. The ruble once again proved its uniqueness, as it matures but does not grow. This is remarkable.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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