PRESS: Russia expects ruble to average 70 against dollar in 2023

MOSCOW, Jan 30 (PRIME) -- The Russian ruble will average 70 against the U.S. dollar in 2023, and the weakening should support exports, First Deputy Economic Development Minister Ilya Torosov said in an interview to daily Izvestia published on Monday.

“We expect the rate at 70 rubles per U.S. dollar on average, just like what we have now,” he said.

“The wider range for the year is 68–72 rubles. Imports are recovering, including parallel imports, weakening the ruble. Also, the oil and gas revenue has objectively fallen, meaning the inflow of dollars to the economy has shrank.”

The 70 rubles rate balances the economy, because when the ruble is strong, exporters suffer, and the economy receives less revenue, he added.

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