The Ministry of Economic Development expects the ruble exchange rate to strengthen further, reaching its peak in June 2024. As can be seen from the ministry’s forecast for 2024-2026, approved by the government, by June next year the dollar will cost 87.5 rubles. This was reported by Interfax.
According to the forecasts of the Ministry of Economic Development, in December 2023 the exchange rate will be 94.3 rubles per dollar and 105 rubles per euro. By June 2024, the ruble will strengthen to 87.5 against the dollar and 97.5 against the euro. “By the end of 2023, the pressure on the trade balance and the ruble exchange rate arising from foreign trade will gradually weaken. Since June, there has been a reversal in world commodity markets; Prices of oil and some other export goods increased. In turn, the increase in foreign exchange inflows through the current account and the continued diversification of the currency structure will contribute to the strengthening of the ruble exchange rate at the end of 2023 – in the first half of 2024,” says the ministry’s forecast.
When, following the rise in the dollar, the American currency rose above 100 rubles per dollar, the Central Bank of the Russian Federation twice raised The basic rate has been increased from 8.5% to 13% per annum. A number of currency control measures were also announced, as a result of which the dollar rate was fixed in the 95-97 ruble corridor.
The Central Bank did not do this before. saw The threat of rapid devaluation of the ruble.