I think that many central banks and financial authorities understand that any long term attempt to compete through an artificial depreciation of their currency will not be very effective in the long term.

Of course I welcome all the normalization of monetary policy. I think monetary policy should be normal.

It seems to me that a market exchange rate which is not artificially controlled by central banks enables one to balance the interests of different market players - exporters and importers, investors, borrowers, lenders.

Elvira Nabiullina Quotes