{"id":36285,"date":"2021-02-11T15:43:39","date_gmt":"2021-02-11T13:43:39","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=36285"},"modified":"2025-08-29T05:34:16","modified_gmt":"2025-08-29T02:34:16","slug":"russian-finance-ministry-sees-potential-for-stronger-ruble-with-digital-ruble-launch","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/russian-finance-ministry-sees-potential-for-stronger-ruble-with-digital-ruble-launch\/","title":{"rendered":"Russian Finance Ministry sees potential for stronger ruble with digital ruble launch"},"content":{"rendered":"

The launch of the digital ruble is associated with risks for banks, but could bolster the competitiveness of the Russian currency, said Ivan Chebeskov, head of the Financial Policy Department at the Russian Finance Ministry, according to <\/span>\u0420\u0418\u0410 \u041d\u043e\u0432\u043e\u0441\u0442\u0438<\/span><\/a>.<\/span><\/p>\n

The Finance Ministry expects that the introduction of the digital ruble will enhance the competitiveness of the Russian currency in international settlements.<\/span><\/p>\n

\n

\u201cIf we make the digital ruble more attractive relative to other digital currencies, give non-residents, say, our partners, easier access and the ability to receive digital rubles, then perhaps we can thereby raise the ruble\u2019s competitiveness in international settlements overall,\u201d Chebeskov said.<\/span><\/p>\n<\/blockquote>\n

He also noted that the new asset could \u201copen an ocean of opportunities\u201d for fintech, improving efficiency, system transparency, the budgeting process, and the control of targeted spending.<\/span><\/p>\n

At the same time, the Finance Ministry is concerned about the potential drop in banks\u2019 income due to the introduction of the digital ruble.<\/span><\/p>\n

Among the risks for banks, Chebeskov listed the loss of part of retail transaction deposits, some of the acquiring-related commission income, and an increase in the cost of liabilities.<\/span><\/p>\n

\n

\u201cIf people, citizens, gain access to a more convenient and cheaper settlement mechanism, this could, of course, trigger a shift from current account balances to digital rubles,\u201d the official said.<\/span><\/p>\n<\/blockquote>\n

The Bank of Russia allowed a rise in rates<\/a> after the rollout of the digital ruble.<\/span><\/p>\n

In turn, Deputy Chairman of the Bank of Russia Alexei Zabotkin stated<\/a> that none of the banks voiced opposition to issuing the new asset.<\/span><\/p>\n

Subscribe to ForkLog news on Telegram: ForkLog Feed<\/a> \u2014 the full news stream, ForkLog<\/a> \u2014 the most important news and polls.<\/p>\n","protected":false},"excerpt":{"rendered":"

The launch of the digital ruble is associated with risks for banks, but could bolster the competitiveness of the Russian currency, said Ivan Chebeskov, head of the Financial Policy Department at the Russian Finance Ministry, according to \u0420\u0418\u0410 \u041d\u043e\u0432\u043e\u0441\u0442\u0438.<\/p>\n","protected":false},"author":1,"featured_media":36286,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1165,27,1450],"class_list":["post-36285","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-digital-ruble","tag-russia","tag-russian-ministry-of-finance"],"aioseo_notices":[],"amp_enabled":true,"views":"18","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/36285","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=36285"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/36285\/revisions"}],"predecessor-version":[{"id":36287,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/36285\/revisions\/36287"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/36286"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=36285"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=36285"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=36285"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}