Russian Economy Minister Maxim Oreshkin was on the wires earlier today, via Reuters, expressing his view on the Ruble on the on the sidelines of the Eastern Economic Forum.
Key Points:
The Ruble has “seriously deviated” from fundamental levels
But expects it to firm to 63-64 rubles to the US dollar in December this year.
Does not expect positive surprises for Russia’s economic growth in the third and fourth quarters due to higher financial market volatility.
Gross domestic product growth in each of the two quarters was unlikely to exceed 1.9%.
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