The weakening of the national currency of Russia is due to the return of imported goods to the country, aforementioned Yaroslav Kabakov, director of strategy at the investment company FINAM, went on the air of the Moscow Speaks radio station.
According to him, in connection with this, the Russians sharply increased their spending, which seemed “quite reasonable” on the background of inflation.
“If we take the situation regarding last year, when the ruble strengthened quite strongly, it strengthened primarily due to the transition of the population to the savings model and the flow of imports into the Russian economy stopped at some point. Now that imports are back, Russians’ spending has increased significantly, many have decided to seize the moment and increase their spending, we see this both in the growth of consumer inflation and in the weakening of the ruble.
The previous day, BCS World of Investments stockbroker Dmitry Babin, in an interview with socialbites.ca aforementionedAt the moment, it is necessary to try to eliminate the imbalance in the Russian foreign exchange market in order to support the ruble exchange rate. He explained that the situation persists when the supply of foreign currency in Russia is not sufficient and the demand for it increases.
Previously in the State Duma to create a way to strengthen the ruble exchange rate.