Dollar Expected To Trade For 76 Rubles By Year-End - Russian Economic Development Ministry

Dollar Expected to Trade for 76 Rubles by Year-End - Russian Economic Development Ministry

One US dollar is expected to trade for 76.7 rubles in late 2022, a spokesperson of the Russian Economic Development Ministry said on Tuesday

MOSCOW (Pakistan Point News / Sputnik - 17th May, 2022) One US Dollar is expected to trade for 76.7 rubles in late 2022, a spokesperson of the Russian Economic Development Ministry said on Tuesday.

The ministry has submitted the main parameters of the scenario conditions for the socio-economic development for 2023 and for the planning period of 2024 and 2025 to the government.

"In the base case (scenario), we assume a gradual weakening of the exchange rate to 76 rubles per dollar by the end of 2022," the spokesperson told reporters.

In addition, the spokesperson said that it expects the average price of Urals oil to reach 78$ per barrel this year.

"In the base case (scenario), we set the price for Urals oil at 78 US Dollars per barrel on average until the end of the year, for the year it turns out to be 80.1. prices for other commodities also expect to remain at high levels," the spokesperson said.