Russian economy minister sees ruble firming to 63-64 to dollar in December

VLADIVOSTOK, Russia (Reuters) – Russian Economy Minister Maxim Oreshkin said on Wednesday the rouble has “seriously deviated” from fundamental levels but he expected it to firm to 63-64 rubles to the U.S. dollar in December this year.

Oreshkin, who was speaking on the sidelines of the Eastern Economic Forum, said he did not expect positive surprises for Russia’s economic growth in the third and fourth quarters due to higher financial market volatility. He said gross domestic product growth in each of the two quarters was unlikely to exceed 1.9 percent.

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