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Russian Economy Minister Reshetnikov: Rouble at current levels will incite organizations to cut their result

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Offering a few remarks on the conversion scale esteem on Wednesday, Russian Economy Minister Maxim Reshetnikov said that “assuming the rouble stays as it is currently for a really long time, organizations should cut their result.”

Additional comments

We will have flattening in June.

Request in economy stays low.

Individuals will more often than not save, not burn through cash now.

Rouble rate is main point of contention for our monetary strategy.

We have unreasonable stock of unfamiliar cash available.

We see indications of emptying winding.

Market reaction

In a quick response to these remarks, USD/RUB plunged to the most reduced level since April 2015 at 50.10. The pair is down 2.31% up to this point.

About the author

Nafees Saifi // entrepreneur, author, trainer, and stocks and FX trader. 
Nafees Saifi is a professional FX trader from, India. Nafees has extensive experience trading commodities, bonds, and equity futures in the Asian, European, and US markets. Nafees holds a Bachelor of Finance and Economics degree and is focused heavily on Investment Finance and Quantitative Analysis.

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