Who owns the Central Bank? - page 2
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What does this have to do with the Bank of Russia and the US Federal Reserve?
Can I get a link to an article of the Constitution?
I only know about Article 75 -Article 75 of the Constitution of the Russian Federation sets forth a special constitutional and legal status of the Central Bank of the Russian Federation, gives it the exclusive right to issue currency (Part 1) and protect the ruble and ensure its stability (Part 2). The status, purposes, functions and powers of the Bank of Russia are also determined by Federal Law No. 86-FZ of July 10, 2002, 'On the Central Bank of the Russian Federation (Bank of Russia)' and other federal laws.
Where's the Fed here?
Why did the rouble crash?
In my opinion. Oil prices, sanctions and other negativity against Russia are to blame. The budget was projected with an average oil price of $100. The oil price was falling and if we left the ruble at the same level, the budget would be short of huge sums. Moreover, keeping the rouble at the same level would have drastically reduced the CBR's international reserves. The central bank would have been forced to sell the dollar in large quantities in order to maintain the exchange rate at the previous level. That is, in fact, standing against the trend that was established at the time. When the ruble was falling, I was watching the volume of foreign exchange transactions of the Central Bank (previously the official website of the Central Bank published this data with a slight delay, as now I don't know when the exchange rate has stabilized and stopped watching it). The CBR increased the volume of USD sales not too much, which was clearly not enough to resist speculators and other market participants playing against the ruble. The only thing that CB did to support ruble was to increase interest rate. It did so at that moment, when the exchange rate reached a level at which it could compensate for the budget losses. Oil price has fallen almost twice (we sell oil for dollars), rouble has fallen almost twice against the dollar - that is the mathematics.
You are asking the right questions, all that remains is to find the right answers.
It feels like you are implying that the Central Bank of Russia is acting in the interests of the US Federal Reserve. :)
IFV