National Bank predicts «small devaluation»

• 22.01.2013, 12:27

Senior deputy head of the National Bank Mikalai Luzhin says that some devaluation is inevitable.

Some devaluation will be observed even with the planned inflation of 10-12% this year, interfax.by reports quoting him. "Small and smooth devaluation was also observed last year," Luzhin noted. However, the real effective rouble exchange rate increased by over 14%.

The National Bank has refused from making forecasts about the rouble exchange rates, Luzhin said. The rouble exchange rate is defined my market means and the National Bank does not have to control it artificially, he noted.