Russia’s Siluanov: Rouble overvalued by up to 12% - IFX
|Russia’s state news agency, Interfax (IFX) reports comments from the Russian finance minister Siluanov on the domestic currency.
Key Headlines:
Rouble is 10-12% stronger than fundamentals
Now is an attractive moment for treasury to buy more fx for future payments 0n external debt, other obligations
Can buy a least $1bln but not required to
Already bought $500m
Economy seen growing by 1.5-2.0% this year
Reaching 4% inflation target "quite realistic" by year-end
The USD/RUB pair remains unfazed by Russia’s finance minister’s comments and keeps range around 57.40, up +0.29% on the day.
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