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Russian economics ministry to adjust rouble exchange rate forecast for 2015 downwards

The latest official forecast of the ministry fixed the mean yearly rouble exchange rate in 2015 at 37.7 roubles per one U.S. dollar

TEHERAN, November 30. /TASS/. Russia’s ministry of economic development will adjust its forecast of the mean annual rouble exchange rate for 2015 to weaken the rouble, Russian Minister of Economic Development Alexei Ulyukayev said on Sunday.

The latest official forecast of the ministry fixed the mean yearly rouble exchange rate in 2015 at 37.7 roubles per one U.S. dollar.

“We will review this forecast /for 2015/ to weaken the rouble. The oil price forecast will be adjusted downwards and inflation forecasts will be adjusted upwards,” he said. “It will mean lower real incomes over high inflation rates, lower retail trade, which will impact the GDP forecast downwardly.”.

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