Russian finance minister says ruble to stabilize soon

WASHINGTON, Oct 10 (PRIME) -- The Russian ruble soon may stabilize after finding a balance with the country’s new foreign trade surplus and capital flight figures, Finance Minister Anton Siluanov told reporters Friday.

“We are monitoring the situation. It must find a new balance, and the value of currency is looking for its balanced position, considering the new position both in trade balance and capital outflow,” Siluanov said, adding that “we expect it to happen soon.”

“We will have a new balance of trade balance and will watch the situation how the situation develops.”

The fall of the ruble is linked with low oil prices and geopolitics, as well as the U.S. Federal Reserve’s (Fed) monetary policy. “The issue of the price of money, the Fed’s monetary policy, have an apparent impact on the currencies in Russia, in emerging countries and in the world in general,” Siluanov added.

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