Forecast for 2024 US dollar exchange rate of 90 rubles/$1 is our 'working model', and is based on fundamental factors - Reshetnikov

BEIJING. Oct 17 (Interfax) - The Russian government's forecast for an average annual exchange rate of 90 rubles per dollar for 2024 is a "working model," and is based on fundamental factors; the authorities continue to analyze the situation, Minister of Economic Development Maxim Reshetnikov, told reporters.

"This is a forecast based on fundamental [factors]... We assess the forecast as a working model at the moment. This is our forecast on which the budget is based," he told reporters on Tuesday in Beijing, commenting on the question of whether the government's forecast is realistic at 90 rubles per dollar for next year.

The minister said that "there is a forecast, and the budget is based on it; in a couple of months it will acquire the force of law."

"Then, of course, we understand the entire budget structure... We understand that it is reliable... Then, together with the Bank of Russia, with the Ministry of Finance, we continue to analyze the situation, look at current capital flows. There is constant work underway," Reshetnikov said.