April 14, 2018 / 11:53 AM / a year ago

Russia finance minister expects ruble to firm to 58-60 verses dollar: RIA

FILE PHOTO: Russian Finance Minister Anton Siluanov is seen before President Vladimir Putin's annual state of the nation address to the Federal Assembly in Moscow, Russia March 1, 2018. REUTERS/Maxim Shemetov

MOSCOW (Reuters) - Russian Finance Minister Anton Siluanov said on Saturday he expected the ruble to recover to 58-60 against the U.S. dollar, RIA state news agency reported.

Siluanov said that the ruble rate of 58-60 per dollar was an “equilibrium” exchange rate for months and still looks justified given today’s oil prices, RIA reported.

The ruble has shed 7 percent of its value against the U.S. dollar in the last week, taking a hit from a new round of U.S. sanctions that triggered a sell-off across Russian markets.

Reporting by Andrey Ostroukh; editing by Jason Neely

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