On this day: The Central Bank of the Russian Federation was established

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The Median Bank of Russia was founded on July 13, 1990.

It is Russia’s central bank and implements, together with the Russian sway, a single monetary policy. According to the constitution, it is an independent entity, with the leading responsibility of protecting the stability of the national currency: The ruble.

Vladimir Putin’s trade adviser from 2012 to 2013, Elvira Nabiullina, is a head of the Main Bank today.

Read more: 8 most convenient online benefits from Russian banks

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