Reshetnikov predicts ruble exchange rate to stabilised

The Russian Economic Development Ministry predicts the exchange rate of the national currency by the end of 2023 to be 94 rubles for a dollar, head of the ministry Maxim Reshetnikov said.

"By the end of this year, the ruble will strengthen to 94 rubles per dollar. In 2024-2026, taking into account changes in the structure of payments and the volume of capital outflow, a new equilibrium will be formed at the level of 90-92 rubles per dollar," the minister said.

Previously, the Economic Development Ministry expected the average annual dollar-to-ruble rate to be 85.2 rubles in 2023, 90.1 rubles in 2024, 91.1 rubles in 2025, 92.3 rubles in 2026.