The MAYOR expects in the medium term, the dollar to ruble 63-64

© RIA Novosti / Alexei Filippoupolitis in fotomancer of economic development of Russia Maxim Oreshkin on IV Eastern economic forumThe MAYOR expects in the medium term, the dollar to ruble 63-64© RIA Novosti / Alexei Filippoupolitis the image Bank

The Ministry expects in the medium term, the output of the ruble to the level of 63-64 of the ruble, as the reversal of the situation on the capital market will be rapid rollback of the national currency, said the head of the Ministry Maxim Oreshkin.

«The medium-term perspective will yield a level 63-64 (rubles per dollar. — Approx. ed.),» said Oreshkin in an interview with radio station «Business FM» in the framework of the WEF, Recalling that the Ministry has recently updated its macroeconomic forecast.

«All we’ve changed are the dynamics for the next 6-12 months. We have considered all the volatility on the global market, the sanctions story. This led to the fact that short-term capital outflows for the next 6 months, we have seriously increased, and the rate that this capital outflow, respectively, of the weaker. Long-term, beyond twelve months, we do not see any reason why these indicators change,» he added.

The Minister stressed that the stability of the exchange rate in Russia is based on such underlying instruments as a fiscal rule, long-term inflation targeting with a target of 4%.

«These politicians all are saved, and fundamentally, on a macroeconomic level we will come back to equilibrium, and the mechanism of a floating exchange rate means that the equilibrium we can deviate to deviate to quite a considerable distance, and everything to do with short-term capital flows and sentiment that are on the market», — said Oreshkin.

«Now we have strayed, all are in some nervous state of the market. This all translates to the values that we see, but as the situation reaches a certain peak and then begin to unfold, we will see the same rapid movement and back,» — said Oreshkin.

 

MIA «Russia today» is the General information partner of international economic forum.

 

 

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