UK prime minister signs formal Brexit letter to Brussels — official photoWorld March 29, 1:26
Some 20 Topol-M, Yars mobile ICBM systems take part in massive Central Russian drillsMilitary & Defense March 28, 23:10
Russia clinches last-minute 3-3 draw with Belgium in friendly football match in SochiSport March 28, 21:40
Washington-based National Symphony Orchestra members excited to perform in RussiaSociety & Culture March 28, 21:36
'Gentlefan' continues: 'Angels' greet Belgium football fans ahead of Sochi gameSport March 28, 21:12
Scottish parliament backs new referendum on independenceWorld March 28, 20:42
Russian strategic missile carriers to take part in military drills in TajikistanMilitary & Defense March 28, 20:10
Russia’s offshore energy projects in the ArcticBusiness & Economy March 28, 19:33
US chess chief: No plot to oust current FIDE head, but it ‘would be good for the game’Sport March 28, 18:27
NOVO-OGARYOVO, February 17. /TASS/. The strengthening of the Russian currency is short-term, and it may slightly weaken in the nearest future and then stabilize, Economic Development Minister Maxim Oreshkin said Friday.
"We assume that the strengthening [of the ruble] is short-term and is not related to fundamental factors. On the whole we expect a slight weakening of the ruble in the nearest future, after which it will stabilize," he said.
There are no plans to assume measures responding to the ruble appreciation:
"The authorities do not plan any new actions. The Central Bank sticks to a floating exchange rate, the Finance Ministry will continue purchases launched on February 7," he said, adding that the Finance Ministry purchases around $100 mln each day now.
As reported earlier Russia’s Finance Ministry has started foreign exchange purchase and sale operations on the domestic forex market. The amount of operations will depend on the amount of oil and gas revenues of the Russian federal budget. The move is aimed at increasing the stability and predictability of the domestic economic environment and mitigating the impact of varying energy resources market situation on the Russian economy. In February, the amount of extra oil and gas revenues will be worth 113.1 bln rubles ($1.9 bln). The foreign currency purchases are expected to have an immaterial effect on money market rates, the Finance Ministry and Central Bank said earlier.