According to a monthly magazine Euromoney, the economist and Chairman of the Central Bank of the Russian Federation Elvira Nabiullina is declared the best head of the financial regulator in the world.
Russia is in a difficult economic situation due to the fall in oil prices and to the extension of crippling sanctions. However, at the end of 2014, the central bank went on a hard step to stabilize the ruble's exchange rate and raised the key interest rate to 17 percent.
"Shock therapy worked. The central bank managed to stabilize the financial system and to make speculations on the foreign exchange market too expensive," writes Euromoney.
Euromoney recognizes the role of Elvira Nabiullina to counter the economic storm. The magazine also commended the work of the regulator in clearing the market from unreliable banks. The rate was raised from 10.5 to 17 percent. This decision was supported by the former Minister of Finance of Russia Alexey Kudrin. On the same day on the stock exchange, the euro rose to 100 rubles, and the US dollar increased up to 80 rubles.
Nevertheless, the Deputy from the party Fair Russia Mikhail Emelyanov and LDPR leader Vladimir Zhirinovsky did not support the state of affairs. Vladimir Zhirinovsky accused the leadership of the central bank in the collapse of the ruble.
In January 2015, the euro cost 74 rubles, and the greenback was worth 65 rubles.
In 2010, the magazine Euromoney named Alexey Kudrin the best Finance Minister, who held the post from 2000 to 2011.
