Finance Minister Anton Siluanov said Friday that he expected the ruble to start firming soon, news agency RIA Novosti reported.
The ruble slid over 3 percent in early trading on Friday, weakening beyond 48 rubles per dollar for the first time, but has trimmed losses since.
Siluanov said he considers the ruble's slump to be driven by speculative moves by market players. He added that the Central Bank has enough foreign exchange reserves to react swiftly to support the ruble.
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