The dropping ruble and the Central Bank of Russia following it can hardly surprise anyone today. The first to suffer from this race is the Russian economy in general, and then the country's population. Experts offer to change the sequence a bit: the regulator should should not wait for another fall, but react beforehand. For example, experts believe that in the situation of the core interest rate hike to 17%, the central bank should not have followed the market, but react with unexpected and even atypical measures. However, any action of the Bank of Russia is easily predicted, and market participants are ready for it long before it is applied. Even daily 'unscheduled' interventions were carried out according to a plan: usually it was in the afternoon in rather small amounts of $2 billion approximately. Nevertheless, the regulator's mistakes are not the biggest damage made to the Russian currency. The ruble got caught in the crossfire of sanctions and a fall in oil prices; in such case the steps only of the regulator are not sufficient. The situation demands government intervention. President of Association of Russian Banks Garegin Tosunyan comments the current events as follows: 'Of course, the Bank of Russia is not to be blamed for everything. It was not the Russian regulator that made oil prices tumbled tumble to $60 per barrel and created such a geopolitical and macroeconomic situation so that investors prefer to leave the Russian economy. It is another matter that some measures of the central bank may be welcomed, and others raise questions. Thus, it is obvious that the key interest rate hike may provide only a tactical effect of money supply limitation against speculators'.