MOSCOW, Mar 29 (PRIME) -- The Russian ruble may weaken to 62–63 per U.S. dollar in the medium term, First Deputy CEO of VTB Yury Solovyov told reporters on Wednesday.
“The further trend of the ruble, we nonetheless see a medium term weakening, we mainly fear for a fuel price decrease. There is firstly a shale gas threat. The U.S. administration includes shale gas development, unfreeze of Alaska deposits, climatic agreements exit in its official agenda,” Solovyov said.
A cautious approach of the Russian central bank to interest rate reduction will support the ruble, he said.
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