Ruble’s exchange rate may strengthen to 85-90 rubles per dollar in coming years — VEB.RF

Business & Economy August 25, 2023, 12:44

As Andrey Klepach said, the dependence of the ruble’s exchange rate on global oil prices and the key interest rate has decreased by now

BARNAUL, August 25. /TASS/. The ruble’s exchange rate may strengthen to 85-90 rubles per dollar in coming years, VEB.RF Chief Economist Andrey Klepach told a forum.

"If all earned currency was here the dollar’s exchange rate would be 70-80 [rubles]. As the situation is different due to a strong capital outflow the exchange rate will be around 85-90 rubles in coming years," he said.

The dependence of the ruble’s exchange rate on global oil prices and the key interest rate has decreased by now, Klepach said, adding that during summer months the demand for foreign currency usually rises.

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