Ruble exchange rate should return to fundamental values once nervousness, speculation on market ceases - Reshetnikov

MOSCOW. Nov 29 (Interfax) - The recent fluctuations in the ruble exchange rate are owing to one-off factors, particularly speculative ones, though the trade balance remains strong, and the exchange rate should return to fundamental values once market nervousness has ceased, Russian Economic Development Minister Maxim Reshetnikov told reporters.

The government and the Central Bank of Russia "are collaborating in close coordination" to reach the necessary decisions to ease volatility on the markets, Reshetnikov said.

"The fluctuations in the ruble exchange rate this week are owing to one-off factors, particularly speculative ones," he said.

"The trade balance is fundamentally solid. The figures have been higher in the last two months than they were in the summer. The trade balance was 8% higher in October than the previous year's level, or $11.8 billion, owing to good export figures, according to Central Bank data, and it was 14% higher in 10M than last year," Reshetnikov said.

"We assume that the exchange rate should return to its fundamental values once the nervousness on the market has ceased," Reshetnikov said.