Support The Moscow Times!

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

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.