Report: Russian minister sees ruble strengthening in near future

ST. PETERSBURG, Jun 16 (PRIME) -- The Russian ruble is expected to strengthen a bit in the near future, Economic Development Minister Alexei Ulyukayev said Thursday in an interview with NTV TV channel.

“The (ruble) rate is defined by the market based on supply and demand and we can expect an additional increase of currency supply on the market. This is connected with the fact that conditions of our export goods are better than we expected, we can see it first of all on oil. Accordingly, trade balance is stronger, trade surplus is bigger,” he said.

“On the other hand, a capital outflow is decreasing, and on the whole currency supply in the account balance is bigger. That’s why we can expect some strengthening of the ruble,” he said.

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