Russians were urged not to wait for the exchange rate of 72 rubles per dollar. Despite all the measures taken by the authorities, the domestic currency will not strengthen to the level of early 2023, stated analysts interviewed by Izvestia.
During trading on Moscow Exchange November 15 dollar exchange rate got down to the level of 88.9 rubles for the first time since July 2023. The strengthening of the Russian currency was explained by an increase in the key rate Central Bankhigh oil prices, as well as the effect of the presidential decree on the mandatory sale of foreign currency earnings of exporters.
However, despite the measures taken by the authorities, the dollar exchange rate will briefly remain below the 90 ruble mark. According to Finam Financial Group analyst Alexander Potavin, already in December, after the end of the tax period, the American currency will begin to rise in price. The strengthening of the ruble may also be hindered by foreign currency purchases Ministry of Finance of the Russian Federation within the framework of the budget rule. “We definitely don’t expect the ruble exchange rate to rise to the levels of early 2023, that is, to 70-72 rubles per dollar. (…) By the end of 2023, according to our forecasts, the dollar to ruble exchange rate may be in the range of 89-93 rubles,” added the leading analyst at Freedom Finance Global Natalia Milchakova.
According to the investment strategist at BCS World of Investments Alexandra Bakhtinathe strengthening of the ruble may be restrained by increased budget expenditures characteristic of the end of the year and a decrease in exporters’ revenue due to cheaper oil.
Financial consultant, investor Tatiana Volkova notedthat the dollar exchange rate at 90 rubles is comfortable for exporters, the Central Bank and ordinary citizens who are ready to buy currency after its exchange rate has depreciated by 10 percent. At the same time, sales of foreign currency earnings, which were introduced by decree of the Russian President, have not yet begun to influence the ruble exchange rate.
https://musicnewsfirst.com/