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.