Econ ministry not to change ruble outlook over fluctuations

NEW DELHI, Oct 5 (PRIME) -- Russia’s Economic Development Ministry is not going to change a long-term ruble forecast because sees the current fluctuations as temporary, Minister Maxim Oreshkin told reporters on Friday.

“There is certain deterioration of the situation on global markets. If you look, the yield on 10-year U.S. bonds has grown to another maximum of 3.9% and there is a serious weakening on in the entire range of developing currencies,” Oreshkin said.

“This global volatility influences the Russian market as well, we have a floating rate so changes in the global mood, of course, have a short-term influence on the currency rate, while in the long run nothing is changed as we forecast.”

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