According to Russia's Richest Businessman, 100-110 Rubles for the Dollar is "Reasonable"

Forex - Russia's richest businessman, Vladimir Potanin, stated on Saturday that an exchange rate of 100 to 110 rubles per US dollar is "reasonable" as it balances the interests of the state and exporters.

In an interview with RBC TV, Potanin said, "This range is quite reasonable from an economic perspective; it's something the country can live with. It provides a kind of balance between budget interests and the interests of exporters."

Following the US imposition of sanctions on approximately 50 Russian banks on November 21, the ruble fell to its lowest level since March 2022. The currency has since recovered some of those losses and was set at 103.4305 per dollar as of Saturday, but the recent depreciation has increased pressure on the central bank to continue raising the key lending rate, which is currently at 21%.