Deputy min sees Russian ruble depreciating in 2014–2015

MOSCOW: The next wave of the Russian ruble’s depreciation is projected for 2014–2015, Deputy Economic Development Minister Andrei Klepach said Friday at a conference in the Altai Region resort town of Belokurikha, ITAR-TASS reported.

The Russian ruble may depreciate due to a forecasted worsening of the country’s trade balance, Klepach said.

“The ruble rate will be more volatile due to the policy chosen by the Central Bank of Russia (CBR),” he said. “At present, the balance is favorable, but is projected to worsen in the future,” Klepach said.

The CBR projects Russia’s trade surplus at U.S. $100 billion in 2010, according to earlier reports.