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Russia changes currency

The Russian State Duma came up with the idea how to stop inflation and devaluation of the Russian currency

Russia changes currency

The Russian State Duma decided to stop the fall of the ruble. During this year the ruble has lost more than 40% of its value against the dollar and more than 34% against the euro. In order to stop the fall of the ruble Anatoly Vyborsky, a member of the Duma Committee for Security and Anti-Corruption proposed to introduce an alternative currency.

According to Viborsky, there is no name for it yet. However, the MP is sure that the new "ruble" is able to raise the national currency to a new level. For example, the Russians will no longer need to use the euro and the dollar for calculation.

The Kremlin believes that in addition to the EU sanctions, the fall of the ruble and the decline in oil prices are connected with speculation in the domestic market. Thus, Putin demanded from the Central Bank to take tough measures against currency profiteers.

It is still unknown whether such measures will include the introduction of a new currency. But Anatoly Vyborsky claims that the MPs have already begun to work on a draft of the alternative currency after the president