Russia's Finance Minister explains current ruble strengthening

Russia's Finance Minister explains current ruble strengthening

Foreigners' interest to investment in Russian bonds is responsible for a high rate of the ruble, Finance Minister Anton Siluanov said on the sidelines of the Gaidar Forum, which is held in Moscow.

"Investor interest, including interest from foreign investors, to Russian securities was significant at the latest auctions… That is why we will make every effort to keep the ruble stable… and to replenish our reserves," the minister said in an interview with television channel Rossiya 24.

Siluanov also said that high oil prices will allow the ministry to add around 3% of GDP to the country’s reserves in 2018.

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