The Ministry of Economic Development has forecasted the peak strengthening of the ruble in June 2024, while VTB Bank has refuted negotiations regarding an exchange of its stake in Fortenova for shares in “Yandex”. These and other important news updates as of the morning of Wednesday, September 27, are featured in our daily overview.
According to “Interfax,” the ruble’s exchange rate is expected to gradually strengthen in late 2023 and the first half of 2024, reaching its peak the following June, before transitioning into a period of weakening. This information was sourced from the socio-economic development forecast for Russia covering the years 2024-2026, prepared by the Ministry of Economic Development. The forecast was officially approved during a government meeting this past Friday.
Currently, VTB Bank is not engaged in discussions with the retailer Fortenova regarding an exchange of the bank’s stake for shares in “Yandex,” as reported by Forbes, citing the bank’s press service. Earlier, on Tuesday, September 26, the publication Frank Media had reported such negotiations, citing sources.
