The Finance Ministry expects the traditional for the Russian Federation the weakening of the ruble at the end of the year

The Finance Ministry expects the traditional for the Russian Federation the weakening of the ruble at the end of the year


The ruble changed under the influence of two key factors: oil prices and seasonality, said Deputy Minister of Finance of Russia Alexey Moiseev. In his words, “chart of the ruble from year to year the same.”

MOSCOW, 28 Oct. Seasonal fluctuations of the ruble this year, will meet Russia for the usual schedule with the traditional weakening of the national currency at the end of the year, said Deputy Finance Minister Alexei Moiseev.

“I don’t know if some kind of trend, but seasonal variations will occur in normal mode,” Moiseev said to journalists, commenting on the current weakening of the ruble. He noted that the exchange rate of the Russian Federation changed under the influence of two key factors: oil prices and seasonality.

“Chart of the ruble from year to year the same: the first quarter in the second half — increased, then in may, as traders say sell in may go away, then in the summer, in the middle — strengthening, then at the end of summer — beginning of autumn — the weakening, in the middle of autumn — strengthening, then at the end of the year — again weakening… And so every year. Always the same. I think this year and next will be all the same”, — said Moiseev.