KAZAN, October 22. /TASS/. The current situation with the exchange rate of the ruble is associated with increased volatility in the market, but the exchange rate is within the framework of the annual forecast expectations of the Economic Development Ministry, Minister of Economic Development Maxim Reshetnikov told reporters journalists on the sidelines of the BRICS summit.

"We understand that the situation is basically going as we predicted. We have a very strong trade balance and exports are going well. … But the existing fluctuations are related to financial flows, including issues of exchange rate formation. We understand that our volatility has increased," he said. The minister explained that in such situation, any large purchases by exporters or importers immediately lead to volatility.

"Volatility has increased. Let's not forget that our large companies continue to meet their obligations on previously raised funds and generally repay loans and borrowings, including those taken out in foreign currency. This also creates a certain capital outflow," Reshetnikov concluded.