1. A sustained upturn would have reduced the government deficit and increased public support for reform while supporting the ruble. 2. But wary of spending too much of its reserves, the bank announced last month that it would reduce its intervention to support the ruble. 3. Its dwindling hard currency and gold reserves cannot support the ruble indefinitely, which may in time force the government to fix the ruble after all. 4. The government had created only an illusion of stabilization by artificially supporting the ruble and lowering inflation, he said. 5. Vyugin said Soros actually urged several measures to support the ruble, one of which was devaluation. 6. No reason was given for the drop, though Russian media reports said that the Central Bank has been trying to support the ruble. 7. The Central Bank intervened again Wednesday to support the ruble, traders said. 8. Zadornov said the government can guarantee its debt payments and support the ruble because of increased tax revenues collected in July and August. 9. Certain government circles accuse the central bank of refusing to support the ruble. 10. The Russian central bank intervened to support the ruble. |