MELBOURNE, November 18 (RIA Novosti) - With world oil prices at $61 per barrel or less, the ruble will not appreciate by more than 5% in 2007, the Russian finance minister said Saturday.
"With spending levels that we have planned for next year, the risks [of ruble appreciation] remain," Alexei Kudrin said. "But if oil prices do not exceed $61 per barrel, the ruble's effective appreciation will not be more than 5%."
He said that with oil prices above $61 per barrel, the ruble will appreciate further.
