MOSCOW: Russia's rouble, which has fallen almost 30 percent against the dollar this year, will continue to decline over the next two years, Interfax news agency quoted former Finance Minister Alexei Kudrin as saying on Saturday.
The rouble has sunk during an economic downturn, made worse by a fall in global oil prices and sanctions imposed by the West over the crisis in Ukraine.
"In the next two years, it (the rouble) will be weakening, meaning it will continue to decline a little. This will be happening slowly," Kudrin, a long-time ally of President Vladimir Putin, told reporters on the sidelines of a conference.
Analysts have predicted that the currency will be volatile since the central bank decided this month to let the rouble float freely.
Kudrin said in a commentary published on Friday that it would take years of economic growth to woo foreign investors back to Russia and restore trust in the rouble.
Comments
Comments are closed for this article.