Economic Development Ministry expects ruble to gradually weaken in 2026-28, currency will be stronger than expected in April - minister

MOSCOW. Sept 24 (Interfax) - The Economic Development Ministry expects a gradual weakening of the ruble's exchange rate in 2026-2028, but the ruble will be stronger than previously expected, the head of the ministry Maxim Reshetnikov said at a government meeting where the ministry's macro-forecast for 2025-2028 is being considered.

"The forecast includes a gradual weakening of the ruble's exchange rate. At the same time, the exchange rate itself will be stronger than was laid out in the April scenario conditions. This will primarily occur due to a stronger trade balance," Reshetnikov said.

The ministry forecasts the average annual dollar exchange rate in 2025 at 86.1 rubles/$1, compared to 94.3 rubles in the April version of the forecast.

The forecast for the average annual dollar exchange rate in 2026 is 92.2 rubles (100.2 rubles in the April version), 95.8 rubles in 2027 (103.5 rubles) and 100.1 rubles in 2028 (106.0 rubles).