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US Dollar to Stay in RUR 50-60 Band - Minister
29.07.2015 14:29
US Dollar to Stay in RUR 50-60 Band - Minister
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The US dollar is bound to trade in a band between 50 and 60 roubles within the next six months amid oil price uncertainty, said Economic Development Minister.

      According to Alexey Ulyukayev, the exchange rate will fluctuate slightly, reflecting oil price dynamics.

      Speaking to the Rossia 24 TV Channel, the minister said the main factors going forward would be oil and balance of payments trends.

      The projection will hold true unless a major negative financial event occurs like ‘additional turbulence on the global capital markets, a sovereign or a corporate default,’ he added.

      The rouble saw a fast depreciation in just two months after strengthening in the spring.

      The Central Bank has been taking active steps to halt the national currency from going up any further, including gradually bringing down the key policy rate.



Author: Mikhail Vesely


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