Support The Moscow Times!

Now is the time to support independent reporting from Russia!

Contribute Today

Russia's Finance Minister Says Falling Ruble Will Soon Strengthen

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.

Read more

Russia media is under attack.

At least 10 independent media outlets have been blocked or closed down over their coverage of the war in Ukraine.

The Moscow Times needs your help more than ever as we cover this devastating invasion and its sweeping impacts on Russian society.