The Ministry of economic development in preparing the draft budget for 2017-2019 comes from the projection of the stability of the ruble during this period, said Wednesday the Agency Bloomberg, citing two officials familiar with the discussions.
The new base scenario of Ministry of economic development suggests that in the years 2017-2019 rate of approximately 64 to 65 rubles per dollar, and oil will cost about $40 per barrel, told the news Agency.
At the time of publication were expecting the review of economic development.
Published in the April forecast, the Ministry had stipulated that in 2016 the dollar will be worth RUB 67-68, and by 2019 “with the increase in oil prices and projected balance of payments” of the Russian currency may strengthen to RUB 62-63 per dollar.
In January amid falling oil prices below $30 per barrel, the dollar on the Moscow exchange for the first time since denomination 1998 exceeded 85 RUB, at the peak reaching 85,99 RUB At the opening of trading on the Moscow exchange on Wednesday, September 21, the dollar against the ruble fell by 27 cents to 64.5 RUB as calculated By Bloomberg, since the beginning of September, the rouble had strengthened by 0.9%, having shown the best dynamics among the currencies of developing countries from the beginning of 2016 after the Brazilian real.
The ruble supports the decision of the Bank of Russia to keep the key rate at 10% until the end of 2016, the Agency said. The head of the Central Bank Elvira Nabiullina, commenting on the regulator’s decision on September 16, said that the ruble in recent months was even stronger than previously expected. In its opinion, the exchange rate will remain stable, and further, the reasons for the collapse of the ruble, or even the growth of its volatility now, no.