Oreshkin says current ruble exchange rate is normal
Russia's Minister of Economic Development Maxim Oreshkin said the current ruble exchange rate is "normal". According to him, the current rate corresponds to the dynamics of capital flows.
"The inflow of capital at the beginning of the year was coming through two channels," the head of the Economic Development Ministry noted. "The first channel was the inflow of foreign capital into the government federal bonds market, while the second channel was the active external borrowing of Russian companies," he said. "There was a very serious inflow of capital, which strengthen the ruble," Interfax cited the minister as saying.
Oreshkin noted that "capital inflows have slowed down a bit." "The ruble has returned to those levels that we consider normal in the current situation," he stressed,