Official says no reason for Russian ruble to fall to 100 per US dollar

MOSCOW, Dec 11 (PRIME) -- The Russian economy has adapted to an average oil price of U.S. $45 per barrel and there are no macroeconomic reasons for the ruble to plunge to 100 per U.S. dollar in 2016, Deputy Finance Minister Maxim Oreshkin said at a conference Friday.

“But there are risks that if (the government) fails to cope with the primary budget deficit, it may create problems for further periods,” he said.

There is a trend where gas prices are guiding oil prices. “The gas price is losing its connection to oil prices and is becoming a defining price,” he said, adding that oil will trade in a $40–60 per barrel range in the next seven years.

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