Fluctuations in the ruble exchange rate are associated with inflows and outflows of foreign currency from the country, Russian Finance Minister Anton Siluanov said in an interview with journalist Pavel Zarubin. According to the head of the Ministry of Finance, the trends of recent months “go both in one direction and in the other”.
The exchange rate is affected by the trade balance: how much the country has sold and how much it has bought. Therefore, the value of foreign currency can be affected by an increase in imports or a decrease in export earnings.
Now the prices of Russian energy carriers have risen, so we can expect a strengthening of the ruble, the finance minister said. At the same time, he did not give a forecast, stressing that the Central Bank does not set any limits for the value of the Russian currency.
The US dollar and the euro have risen on the Moscow Stock Exchange against the ruble in recent days. On Thursday, April 6, the exchange rate of the US currency for the first time since April 2022 exceeded 80 rubles.
Earlier, Vladimir Putin said that Washington was making a mistake in limiting the use of the dollar due to momentary considerations. After the introduction of Western sanctions, Russia is looking to switch to international payments in other currencies.
The head of the Ministry of Finance of the Russian Federation explained that fluctuations in the dollar exchange rate by the trade balance first appeared on news articles.
