Report: Econ min says ruble considerable below equilibrium value - Business Wire - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

Report: Econ min says ruble considerable below equilibrium value

VLADIVOSTOK, Sep 11 (PRIME) -- The Russian ruble is considerably below its equilibrium value, Economic Development Minister Maxim Oreshkin said in an interview with RBC at the Eastern Economic Forum on Tuesday.

УActually, a foreign currency surplus is being created on the currency market which will no doubt return (the ruble) to its equilibrium value later. The ruble is below its equilibrium value now, according to our estimates, far below the value,Ф he said.

The global crude prices are unstably high and may fall soon, Oreshkin also said.

The minister added that according to the fundamental figures there is no Уmortgage bubbleФ in Russia and it is far from appearing.

УOur nominal wages rise around 10% on the year, and the mortgage rates decline. Real estate prices are stable, they do not grow. On the other hand, the interest rates have dropped significantly lately. Such fundamental dataЕ demonstrate that the market is far from a СbubbleТ yet,Ф he said.

The minister also said that the central bank should make its future key rate decisions so that it could ensure long-term price stability.

Oreshkin said that foreign investors withdrew U.S. $6 billion from RussiaТs debt market in AprilЦJuly, and the process continued in August due to both speculations about new possible anti-Russian sanctions including sanctions against the state debt, and generally unstable situation on emerging markets.


11.09.2018 13:07
Share |
To report an error select text and press Ctrl+Enter
Central Bank Official Rate
1W 1M 1Y
EUR 78.2611 +0.3542 29 may
USD 71.1012 +0.0377 29 may
Stock Market Indices
1D 1W 1M 1Y
rtsi 1241.77 +2.44 18:50 28 may
micex 2779.98 +1.42 18:50 28 may
Stock Quotes in RUR
1D 1W 1M 1Y
gazp 196.86 +1.09 18:49 28 may
lkoh 5392.00 +0.74 18:49 28 may
rosn 377.45 +0.68 18:49 28 may
sber 205.00 +3.27 18:49 28 may
MICEX Ruble Trading
1D 1W 1M 1Y
EURTD 77.8900 -0.4000 14:59 28 may
USDTD 71.2825 +0.6625 17:44 28 may