Reshetnikov explained the fluctuations of the ruble exchange rate and named the terms of its strengthening

This week's fluctuations in the ruble exchange rate were due to one-off factors, including those of a speculative nature. Fundamentally, the trade balance is strong: for the last two months its indicators are higher than they were in the summer. After the market nervousness stops, the exchange rate will return to its fundamental values. This was stated by Russian Minister of Economic Development Maxim Reshetnikov to journalists on November 29.

"In October, the trade balance was 8% higher than last year's level, or $11.8 billion, due to good export performance (according to the Bank of Russia), and for 10 months - 14% higher than last year. Our exporting companies continue to work steadily, imports are also recovering. Settlements on foreign trade contracts are underway. It is obvious that adaptation to the next anti-Russian sanctions will be required, including in terms of changing banking mechanisms and channels of currency inflow to the Russian market," he explained.

According to the minister, such restrictive measures have been introduced several times in recent years, and each time the Russian economy adapted to them and continued its development.

"Russia cannot be excluded from the global economy, and our partners are interested in preserving and developing mutual trade," Reshetnikov reminded.

He noted that in the absence of exchange trading volatility in the financial market is somewhat increased, additional currency inflows or increased demand for it in the moment can lead to tangible fluctuations in the exchange rate.

The Minister pointed out that the Russian Central Bank is taking measures to reduce the amplitude of such jumps. For example, the regulator has suspended currency purchases under the budget rule until the end of the year.

"The government is working in close coordination with the Central Bank to make the necessary decisions," Reshetnikov concluded.

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What else the authorities can do to stabilize the exchange rate and whether they will maintain it

On the eve, November 28, Evan Golovanov, a finance and investment expert and founder of the Multiplier financial club, told Izvestia that the national currency exchange rate will stabilize in February next year. In his opinion, the dollar may trade around Br96-98 at the end of winter.