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Ruble Exchange Rate is strengthening



Russian Minister of Finance reported about strengthening of ruble currency exchange.



29.Dec.14 3:12 PM
By Roman Skvortsov
Photo Toinnov.com

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Ruble Exchange Rate is strengthening
Experts have positive forecast on further development of ruble exchange rate in the nearest future. In accordance with the Head of Ministry of Finance Anton Siluanov lowering of ruble exchange rate has stopped. From this moment Russian currency is going to become stronger while the rate will be more stable. At the same time the official noted that such improvement has resulted in measures which were taken by the Central Bank in cooperation with governmental institutions. Low interest rates also turned out to be rather efficient tool for developing situation in the currency market. Siluanov said that there is no need to keep high interest rates and they can be lowered in the nearest future.

The officials also discuss the level of inflation. Exports predict inflation up to 11.5% which is 1.5% higher in comparison with 24th of December.

Opening of trades in Moscow currency exchange showed that the current ruble rate is 52.99 for one UDS. Rate of euro has also decreased to 64.95 rubles per one euro. This is the lowest rate since 4th of December 2014. Experts are sure that such positive tendency will continue in the nearest future.



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