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Russian Economy Ministry keeps average annual exchange rate at 96 rubles per dollar

Maxim Reshetnikov noted that the rate and rate forming were very volatile

DAR ES SALAAM, October 30. /TASS/. The Russian Ministry of Economic currently maintains its forecast for the average annual national currency rate to stand at 96 rubles per dollar in 2025, Minister Maxim Reshetnikov told reporters on the sidelines of the Russian-Tanzanian business forum.

"The rate and rate forming are very volatile. Lack of trading on the exchange indeed lowered the currency market capacity and therefore, certainly, any large buying or selling is a kind of a challenge for banks. And the rate therefore fluctuates rather highly. We target the trade balance; forecasts are kept and confirmed using the trade balance. We forecast the fundamental rate on that basis. We actually forecast the rate not on the basis of fluctuations of flows and inflows but with consideration of fundamental factors," the minister said.

"Yes," the minister said, responding to the question whether the average annual forecast rate is kept at 96 rubles per dollar.

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