Putin declared control over the situation with the ruble exchange rate

Fluctuations in the ruble exchange rate are associated with budget payments and seasonal changes, among other things. This was stated by Russian President Vladimir Putin at a press conference in Astana on November 28.

"As for the fluctuation of the ruble exchange rate, it is related not only to inflationary processes, it is also related to payments to the budget, it is related to oil prices. There are a lot of factors of seasonal nature <...> There are absolutely no grounds for panic," the president explained.

He also assessed the situation with the ruble exchange rate as difficult and assured that it is under control.

More than a hundred to one: the ruble exchange rate will consolidate around 105-107 per dollar by the end of the year

Why is the Russian stock market falling and what can support the national currency and company shares?

Earlier on Thursday, Evan Golovanov, a finance and investment expert and founder of the Multiplier financial club, told Izvestia that the ruble exchange rate will stabilize in February 2025, but in the long term it will weaken. According to his forecast, the dollar may trade at the end of winter at the level of about 96-98 rubles.

November 27, data from the international over-the-counter foreign exchange market Forex showed that the dollar rate exceeded Br110 for the first time since March 16, 2022. Thus, the currency rate on the market rose by 4.26% and amounted to Br110.0006.