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No preconditions for significant fluctuations of rouble rate

Deputy Economic Development Minister: "The current decline in the rouble exchange rate is the result of how certain statements are perceived and not of objective reasons"

Photo ITAR-TASS

Photo ITAR-TASS

MOSCOW, June 28 (Itar-Tass) - Russia’s Economic Development Ministry said on Friday it saw no preconditions for significant fluctuations of the rouble exchange rate in the short-term.

“Under the effective oil prices and market conditions there are no special conditions for significant weakening of the rouble exchange rate in the short-term,” Deputy Economic Development Minister Andrei Klepach told reporters noting that there are no terms for the strengthening of the rouble as well.

The current decline in the rouble exchange rate is the result of how certain statements are perceived and not of some objective reasons.

At the same time he noted that if the oil price shrinks, the rouble will also weaken.

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