Russia’s Economic Development Ministry Confirms 1 USD Can Cost RUR 64 by December

UrBC, Moscow, September 28, 2018. Russia’s Economic Development Ministry recently confirmed its original forecast for the expected USD/RUR exchange rate: 1/64 by the end of the year, Prime refers to Minister Maxim Oreshkin as stating.

‘As I said earlier, our end-of-the-year forecast is still RUR 64/USD 1: this is, approximately, the level the ruble should essentially stay at under current conditions. So this is more or less the level expected to last till the end of the year,’ Oreshkin said in answer to the question as to what exchange rate the ministry expected to see in late December.

‘Absolutely, regardless of the current market fluctuations, our forecasts and estimates remain the same: there is an understanding that the market fluctuations have been temporary,’ he added.

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