Arkady Dvorkovich said that in 2009 the average ruble rate could be from 31 to just under 32 rubles per dollar if oil prices stay at current levels or rise slightly. He called this the most realistic scenario and said no sharp shocks are expected in the currency market. He also said Russia does not plan to seek loans from the IMF or World Bank.
The average exchange rate of the ruble in 2009 will be approximately from 31 to just under 32 rubles per dollar, believes Arkady Dvorkovich, aide to the President of the Russian Federation.In his opinion, Interfax reports, this "is a quite likely scenario if today's oil prices remain in place or if they are slightly higher." "This is a fairly smooth scenario, and from our point of view it is the most realistic one next year," the presidential aide noted in an interview with the Vesti news channel. "If prices are even lower than they are today, then a greater decline in the ruble is possible, but not a sharp one, and there will be no shocks in this market." "But prices may turn out to be higher with the same probability," A. Dvorkovich added.
He also said that Russia does not plan to seek loans from the International Monetary Fund or the World Bank. "If such a need is assessed, if it is recognized, then the government will come forward with the relevant proposals in parliament for the adoption of the appropriate adjustments to the budget," A. Dvorkovich said. "For now there are no such plans," he emphasized, "and even more so, the talk from officials of the International Monetary Fund and the World Bank that Russia may turn to these institutions for borrowing is absolutely groundless"