The central bank admitted that a decrease in the base price of oil in the budget as a whole will increase the range of the ruble exchange rate

The central bank admitted that a decrease in the base price of oil in the budget as a whole will increase the range of the ruble exchange rate

A budget-wide reduction in the price of basic oil to $50 per barrel may increase the range of fluctuations in the ruble's exchange rate compared to what has been observed over the past 1.5 years, said Deputy Chairman of the Central Bank Alexei Zabotkin. "The rate will be consistent with a return to low inflation to a target of about 4%."