Russian media, Interfax, with the headline, conveyed by Reuters.
The working is a bit haywire however I feel the adviser signifies that the ruble’s weakening has handed its worst.
A look on the chart of USD/RUB exhibits that most likely occurred in March of 2022. However possibly the adviser is speaking in regards to the more moderen weakening.
Its unclear.
ADDED, OK a bit extra now:
- “The market has handed its peak,” Oreshkin stated.
“Within the coming months, the market will obtain increased
volumes of international trade earnings from elevated costs for
export items. Which, taking into the account the declining
volumes of imports of products and providers, in addition to the results
of elevating the important thing price and tightening macroprudential coverage,
will create a surplus of forex out there.”
—
Regardless, an adviser to the Kremlin might be clueless in relation to market dynamics driving FX. And, the Kremlin is principally a supply of propaganda lies misplaced feedback proper now.
