Russian Finance Minister Anton Siluanov said on Friday that the ruble had strengthened even more than needed, Interfax reported.
"The ruble was first stable and now has started to strengthen. It has strengthened, we think, excessively, too much," Siluanov said at a lecture in St Petersburg.
The ruble was over 1 percent stronger against the dollar on Friday at 50.15 to the dollar, helped by end-of-month taxes and higher oil prices. It is up around 18 percent against the U.S. currency this year.
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.
