Ruble’s exchange rate to fall to 65 rubles per dollar in 1H 2023, says VTB chief executive
Business & Economy
November 10, 2022, 14:31
It is noted that the weakening of the ruble’s exchange rate will be due to budget deficit, a decrease in oil revenues and oil production, as well as a drop in labor supply
MOSCOW, November 10. /TASS/. The ruble’s exchange rate may fall to 65 rubles per 1 dollar in the first half of 2023, Chief Executive Officer of Russia’s second-biggest lender Andrey Kostin said in an interview aired by the Rossiya-24 TV news channel at the Finopolis innovative financial technology forum on Thursday.
"According to our estimations, the exchange rate may slightly decline during this and the first half of next year to around 65 rubles, hardly lower," he said.
The weakening of the ruble’s exchange rate will be due to budget deficit, a decrease in oil revenues and oil production, as well as a drop in labor supply, Kostin noted.