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Despite the Economic Crisis, Georgians Living in Russia not Going to Return Home

The Russian Kommersant writes  that the leading state-owned export companies will  have, by government order, to sell most of the accumulated currency in the next two months, ensuring placing of about $ 1 billion on the market a day. There are no restrictions for private traders, but  they will be controlled by  a working group set up to monitor the situation on the currency market.

However, even only state-owned companies revenues  will provide 20-25% of the daily exchange turnover of currency and will be bale to  actually maintain and strengthen the ruble in a case of stabilization of oil prices.

As “Ъ” predicted,   on December 18, the government made it mandatory for the five largest state-owned companies-exporters (Gazprom, Rosneft,  ALROSA, Zarubezhneft and diamond manufacturing  plant  Smolensk PA Crystal), in accordance with their subsidiaries,  to bring the total “net foreign exchange assets” to the level of not higher than  as of October 1 of this year until 1 March 2015 and then do not exceed this figure. The instructions should be followed on  the schedule the companies  should agree with the Central Bank.

According to the currency market participants, we are talking about  $ 40-50 billion, primarily from Gazprom and Rosneft. If state-owned companies sell the currency equally, the additional revenues to the market will amount to about $ 1 billion a day in January – February.

According to the analyst, the sale of state-owned currency can be a good stabilizer in the quiet market but if oil prices fall  to $ 40 per barrel, this will   not be  sufficient to keep up the ruble. “If oil prices remain at current levels – about $ 60 per barrel – we  can expect stabilization of the ruble and even its strengthening, especially if private export companies join the currency sales,” – says the expert.

To monitor the situation on the currency market, the government set up a special working group headed by First Deputy Prime Minister Igor Shuvalov.

For the moment, the rate of the Russian ruble against the dollar is set at  56.49, against euro – at 69.25.

What is the mood  of the Russian population, as a result of the depreciation of the ruble?

The editor in chief of  Rostov region  newspaper K Vashim Uslugam  Lilia Kalmikova says that  Shafty city residents, whereshe lives, are buying  the currency with  “a high speed”, but it cannot be found in any bank.

In a conversation with  “Commersant” she  notes that in the last month prices in stores increased by 30-40%. The agiotage  around buckwheat hiked  its price from 30 to 90 rubles. Products are available on the store shelves, but prices are high.

Unable to withstand competition, travel companies are closing.

“I attended the  Russian President Vladimir Putin’s press conference. He is self-confident and tough when talking about foreign policy. Speaking about a rate of  the dollar and euro, he says that it  is not worth the worry. In the next two years adifficult period awaits us, so personal responsibility is very important, “- says Kalmikova.

As for wine, the most popular Georgian product in  Russia,  in her words,  its price has not changed and makes  500 -1 000 rubles.

Georgians living in Russia  talk with “Commersant” about the mood of the population. As they say, public attitude to the government has not changed due to a fall of the ruble and most of them trust Putin.

Georgians still do not think of returning to their homeland,”- says one of the Georgians living in Moscow.

“I did not meet any of the local who blames Putin and the government in the current situation. On the contrary – all people support the government here. Now the situation has calmed down relatively. Georgians still do not think of returning to their homeland, “- says  one of the Georgians living in Moscow.