The ruble will return to fundamental values by the end of 2020 - early 2021, said the head of the Ministry of Economic Development Maxim Reshetnikov. So far, the Russian currency is "somewhat undervalued" against the background of increased risk assessment from investors.
At present, according to the minister, the ruble exchange rate has adjusted towards weakening, taking into account the easing of monetary policy, as well as the return to the budgetary rule in 2022.
“We expect the ruble exchange rate to return to fundamental values at the end of this year - early next year,” he stressed during a government meeting.
In the future, he said, the ruble exchange rate will moderately weaken. At the same time, as the head of the Ministry of Economic Development emphasized, in real effective terms, the exchange rate will remain stable.
"This will help maintain the competitiveness of the Russian economy and create conditions for the growth of non-resource exports," the RT channel quoted him as saying.