Russian econ ministry forecasts average annual dollar exchange rate at 79.5 rubles/$1 in 2026, to rise gradually to 96 rubles/$1 in 2029

MOSCOW. Sept 24 (Interfax) - The Russian Economy Development Ministry has lowered its forecast for the average annual dollar exchange rate in 2026 to 79.5 rubles/$1, versus the 81.5 rubles/$1 which it predicted in May, Economy Development Minister Maxim Reshetnikov said in a speech at a government meeting.

"We forecast the average annual exchange rate in 2026 at 79.5 rubles/$1, due to a strengthening in the ruble in the second and third quarters. For 2027-2029, we maintain our forecast that the ruble will gradually depreciate," the minister said.

The ministry kept its forecast for the average annual dollar exchange rate unchanged from May at 87.4 rubles/$1 for 2027, 92 rubles/$1 for 2028 and 96 rubles/$1 for 2029.

The ministry forecasts the dollar exchange rate at 86 rubles/$1 at the end of 2026 and 88.6 rubles/$1, 94.9 rubles/$1 and 97 rubles/$1 at the end of 2027, 2028 and 2029 respectively.