In an interview with financial expert Vladimir Grigoriev said: “Lentoy.ru”He said that under certain conditions, the ruble could strengthen against the dollar in September.
The economist noted that export revenues in Russia decreased, while imports increased. The expert pointed out that these factors together lead to a certain deficit in the foreign exchange. Grigoriev also added that Russian companies and citizens are very actively exporting capital abroad after the Central Bank (CB) noticed or weakened some of the restrictions previously imposed.
Another factor, he said, was that the weakening of the ruble was beneficial for the authorities, as it allowed them to meet their budget obligations through the sale of foreign currency.
“There is a budget deficit, and you can buy more rubles by selling the currency that has risen in price,” said Grigoriev.
The economist admitted that the situation regarding the weakening of the ruble may continue throughout September, as the main factors affecting its relationship with the dollar did not change much in August.
According to Grigoriev, the ruble could strengthen if the export and import rate improves and more foreign currency enters Russia. He also stated that a lot of things depend on the actions of the financial authorities. The economist also noted the necessity of currency restrictions.
Dmitry Babin, previously a stockbroker at BCS Mir Investments gave an opinionthat the inflow of foreign currency into the domestic market during the tax period did not help the ruble to appreciate significantly.
August 21, economist Vasily Koltashov guessIt is predicted that the ruble exchange rate may strengthen until 2024. The expert explained that the exchange rate is affected by world commodity prices and the incomes of Russian exporters from trade, as well as the policies of the Ministry of Finance and the Central Bank of Russia. According to him, the market process can strengthen the exchange rate to 70 rubles per dollar in 2024, despite sanctions, and even lower if the cost of goods on the world market increases.
Formerly an economist allowed growth of the dollar.
Source: Gazeta
Ben Stock is a business analyst and writer for “Social Bites”. He offers insightful articles on the latest business news and developments, providing readers with a comprehensive understanding of the business world.