Russia to prevent sharp ruble growth this year

Russia's central bank head Sergei Ignatyev has said the bank will try to prevent sharp ruble growth this year.

"We are now pursuing an exchange rate policy primarily with an eye on reducing inflation," he said at a meeting with President Vladimir Putin on Friday.

Therefore the central bank will let the nominal ruble rate against the basket of currencies grow 2% for the first time in five months, he said.

The actual effective rate of the ruble grew 7.5% while last year it went up 6%, Ignatyev sai