Nikolay Kuznetsov, Associate Professor of Finance and Credit Department of the State University of Management, Institute of Economics and Finance, said that the ruble may stabilize by the end of summer, and its indicators will be in the range of 80 to 88 rubles. . per dollar. Agency reports “Hitting the Primer”.
According to him, the recent decline of the ruble was due to the violation of the balance of payments, where imports began to recover rapidly and exports fell catastrophically. Also, the stability of the ruble was affected by the capital outflow.
Kuznetsov added that the Russian Central Bank’s inability to directly affect the exchange rate by selling dollars when demand is high and buying them during downturns aggravates the situation.
He added that the sharp depreciation of the ruble carries significant inflationary risks.
The financier believes that the current situation does not suit anyone, which means that the Central Bank and the Ministry of Finance will do something about this fact in the near future.
“As a result, by the end of the summer, the ruble will likely stabilize, strengthening from current values. At the same time, it is likely to remain highly variable. “It’s fluctuations will occur in a fairly wide range, around 80-88 per dollar,” he said.
Before that, the Central Bank Established As of July 12, 2023, the official exchange rate for the dollar is 90,5045 rubles, the euro – 99.6775 rubles, the yuan – 12.5491 rubles.
former Central Bank declaration about a possible increase in key rate.