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RUSSIA: Economy Ministry Projects CNY to Appreciate vs. RUB

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  • Russia's economy ministry has included projections for the ruble's exchange rate against the Chinese yuan in its three-year macroeconomic forecast for the first time, Vedomosti report. The ministry's baseline forecast projects that the yuan will appreciate to 12.60 rubles in December and average 13.00 rubles in 2025.
  • Data yesterday showed Russian inflation expectations fell to 12.5% in September from 12.9% in August, the Bank of Russia reported, the first fall since April when expectations stood at 11%.
  • Deputy Prime Minister Alexey Overchuk is in Pakistan today, where he intends to meet with both the president and premier, according to Tass. Weekly gold and forex reserve data will cross the wires this afternoon.
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  • Russia's economy ministry has included projections for the ruble's exchange rate against the Chinese yuan in its three-year macroeconomic forecast for the first time, Vedomosti report. The ministry's baseline forecast projects that the yuan will appreciate to 12.60 rubles in December and average 13.00 rubles in 2025.
  • Data yesterday showed Russian inflation expectations fell to 12.5% in September from 12.9% in August, the Bank of Russia reported, the first fall since April when expectations stood at 11%.
  • Deputy Prime Minister Alexey Overchuk is in Pakistan today, where he intends to meet with both the president and premier, according to Tass. Weekly gold and forex reserve data will cross the wires this afternoon.