Exchange rate of 100-110 rubles for $1 reasonable, balances interests of budget, exporters - Nornickel CEO

MOSCOW. Dec 16 (Interfax) - The exchange rate of 100-110 rubles for $1 is reasonable in the current conditions of sanctions and represents the balance between the interest of export and the budget, Norilsk Nickel CEO Vladimir Potanin said.

"The exchange rate of 100-110 rubles for $1, I believe, is something quite reasonable in the economic terms, something the country can live with. It is a certain balance between the budgetary interests and the interests of exporters," Potanin said in an interview with RBC TV on Saturday.

Western sanctions have a great impact on settlements and logistic chains, he said. Spikes influencing the national currency's cost occur as sanctions are imposed.

"The last such spike was linked, in my opinion, to the sanctions targeting Gazprombank and some other restrictions. In other words, people face problems in a moment, and it causes them to react. Later, when the reaction starts calming down, the rate, therefore, is also calming down," he said.