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VTB sees no reasons for ruble rate slump in coming months

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Russian ruble likely to strengthen after ‘hitting bottom’ — official

WASHINGTON, October 13. /TASS/. Head of Russia’s Vneshtorgbank (VTB) Andrey Kostin does not expect the ruble rate to slump in the next several months.

“The ruble rate has reached the level where it will have support both from the market and from the Central Bank,” he told reporters on Monday. “At the beginning of this year, our analysts forecasted the exchange rate of 40 (dollar to ruble) by the yearend; the situation developed so that ruble got to that point earlier.”

At this rate, Kostin said, ruble will have support and will not be declining further. “I do not think it will go down much within next months, if, of course, there are no emergencies in politics or economy, and I do not see reasons for that,” he said.

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