INSUBCONTINENT EXCLUSIVE:
Russia's finance minister said Wednesday the government could use excess energy revenues for foreign currency interventions to rein in the
ruble, which has surged to a seven-year high.A strong ruble is not desirable for the Russian government, which fears it can hit budget
revenue to intervene in the foreign currency market."This should affect the exchange rate," he said, adding it was the measure of last
24.Siluanov said the government would discuss the impact of the strong ruble on exporters next week."The exchange rate for exporters is now
of fundamental importance," he added.In recent weeks authorities have taken a number of measures to tame the ruble, which had plunged
authorities introduced strict capital controls to boost the economy.Since then, the Russian currency has staged a spectacular rebound and is
now at its strongest since 1985.Authorities have loosened capital controls and the Central Bank has repeatedly cut its key interest rate,
but the Russian currency continues to appreciate.Russia's Finance Ministry said in May that domestic companies would have to sell 50% of
