Russian Economy Minister Maxim Reshetnikov expects the domestic currency market to begin normalising in the third quarter of 2024, the state-run RIA news agency reported on Thursday.

The minister was cited as saying that the current rouble exchange rate differed from the trajectory set out in the ministry's existing forecast.

To address this, the ministry wouod analyse the situation and develop a revised forecast in the summer.

"In the long term, we expect imports to grow a bit, and this excess supply of currency will stop pressuring the market, so in the third quarter the situation will begin to normalise," Reshetnikov was cited as saying at an economic forum in St Petersburg.

(Reporting by Reuters Writing by Maxim Rodionov Editing by Andrew Osborn)