The deputy head of the Ministry of Economic Development said about the bad impact on the budget of a strong ruble, and Russian miners have increased capacity amid domestic demand for cryptocurrency – these and other important news for Monday morning, January 30, in our daily review.

The balance rate of the ruble for the economy is 70 rubles per dollar, Deputy Minister of Economic Development Ilya Torosov said in an interview with Izvestia. At this level, according to his forecast, the exchange rate of the national currency will remain at in 2023. “A wider range on average for the year – 68-72 rubles,” – specified the deputy head of the Ministry of Economic Development. Torosov noted that the rate of 60 rubles per dollar “categorically does not suit” Russian exporters, because in this case “their business becomes unprofitable.” “In addition, a strong ruble affects the budget, which is under-receiving revenues,” the deputy minister said.

The total capacity of mining sites in Russia at the end of last year exceeded 500 MW, writes “Kommersant” with reference to a survey of leading market participants. Its leader was BitRiver, whose total capacity at eight sites exceeded 300 MW. According to market players, the growth was facilitated by low prices for mining equipment and growing domestic demand.

American investment bank Goldman Sachs (NYSE:GS) has restructured its assets in Russia, RBC reports citing two sources in the investment market. According to one of them, the asset portfolio was bought out by the top management of the American bank – Managing Director of Goldman Sachs European Special Situation Group Maxim Klimov and Managing Director of Goldman Sachs in Russia Anton Schrader, the deal took place last year.

AFK Sistema (MCX:AFKS), founded by billionaire Vladimir Evtushenkov, created Guru Electronics to import Western-branded equipment into Russia. Kommersant found out that on January 27, the company filed documents for the supply of Apple (NASDAQ:AAPL), Samsung (KS:005930) and Dyson appliances in the register of declarations of conformity of the EAEU. Sistema confirmed to the newspaper that it created Guru Electronics for wholesale purchases of electronics and selling them to retail chains and stores.

Although fertilizer and grain prices have fallen sharply after peaking in 2022, the global grain market remains under threat not only because of geopolitical tensions but also because of climate change, the Financial Times reported, citing experts and analysts. After three consecutive years of unfavorable conditions of the La Niña weather phenomenon (cooling of the Pacific Ocean surface), meteorologists warn of the growing probability this year of the reverse phenomenon – El Niño, which causes a warming effect.