Belousov, speaking to the agency in an interview, said year-on-year Russian inflation by the end of the year would be somewhere around 15%. As of June 10 it was 16.69%.
The currency remains near multi-year highs thanks to Russia’s surging current account surplus and capital controls – recently softened – that Moscow introduced in a bid to stop a run on the rouble after the imposition of Western sanctions.
“Our rouble is overstrengthened – 55-60 rubles per dollar is too strong a rate, especially against the background of deflation and high interest rates,” Tass quoted Belousov as saying.
“The equilibrium, comfortable for our industry, is a rate between 70 to 80 roubles per dollar.”
Source: Economy - investing.com
