9 Dec 2015 15:43

Ruble to fluctuate between 65-70/$1 with oil prices at $38-$45 per barrel - Vedev

MOSCOW. Dec 9 (Interfax) - The ruble exchange rate to the dollar under current oil prices will fluctuate between 65-70 rubles/$1, Deputy Economic Development Minister Alexei Vedev said.

"The exchange rate is stable enough and is linked to the price of oil. In the medium term, when the price of oil enters some stable corridor, as it was in the first half of the year, say, up to, $50-$60 a barrel then the rate will be 50-60 rubles per dollar. Now we have a corridor of 65-70 rubles per dollar under oil prices at $38-$45 per barrel," he said, speaking at a conference organized by the Franco-Russian Chamber of Commerce.