Politics 23-11-2018

Deputy Minister: the ruble has never been stronger than now

Volatility in the oil market no longer affects the ruble so much, which has been greatly strengthened, while the de-dollarization process is registering an unprecedented acceleration, said Russian Deputy Minister of Finance Alexei Moiseev, intervening in the round table 'The ruble in the single payment space'.

"Something unusual happens: in negative circumstances we see that what does not kill us makes us stronger, our national currency has never been stronger than now," he said.

He also noted that "the short-term volatility in the oil market no longer affects the ruble," although its dependence on the price of oil still remains.

The process of the so-called de-dollarization has acquired an unprecedented character, the deputy minister said.

In his opinion, the ruble will remain equally stable within a year and will be used much more widely in payments with foreign partners from Russia.


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