Putin Assures Stability Amid Rouble Fluctuations

Russian President Vladimir Putin addressed concerns over the rouble's sharp fluctuations, attributing them to budget payments and seasonal changes. He reassured that no panic is needed as the rouble began rebounding after a steep drop, aided by the central bank's decision to halt foreign currency purchases.

Russian President Vladimir Putin on Thursday dismissed concerns over the recent depreciation of the rouble, attributing its fluctuations to budget payments and seasonal variations. He emphasized there is no reason for panic.

The rouble showed signs of recovery, rebounding after a significant 7% fall against the U.S. dollar. The recovery followed the Russian central bank's announcement to cease foreign currency purchases to support financial markets.

Putin made these statements in Astana, Kazakhstan, following a summit with leaders from a security alliance of former Soviet states, reinforcing the message of economic stability.

(With inputs from agencies.)