Majority of Russians ‘don’t care’ about ruble exchange rate – MP

People are enjoying a normal life, according to Anatoly Aksakov, chairman of the Duma Financial Markets Committee

The chairman of the Russian State Duma’s Financial Markets Committee, Anatoly Aksakov, claimed on Monday that the majority of the population is not concerned about the ruble exchange rate. The comments came after the Russian currency slumped to its lowest level against the US dollar in 16 months.   

The ruble weakened on Monday to 101 versus the greenback and 111 against the euro, the lowest exchange rate since March 2022, before staging a comeback later in the day. 

“I monitor the ruble-dollar ratio for work, while the majority of the Russian population do not care about the issue,” Aksakov said during an interview with Russian news outlet URA.RU, adding that the situation is under control.   

The MP insisted that enterprises in the Chuvash Republic, which he represents in Russia’s upper house of parliament, are inundated with orders, while production volumes are increasing.   

“People get paid. The republic lives a full life, there are smiles on people’s faces and there is no stress over the dollar exchange rate,” Aksakov stated.   

READ MORE: Ruble among three worst performing currencies – Bloomberg

According to the politician, Russia is at its highest stage of development in contemporary history, with the nation enjoying “a normal life.”   

“I have never seen such a state of positive development in modern Russia after the Soviet Union. In this sense, the country is in a positive trend of its development,” Aksakov said.

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