Next week the dollar rate will be 95-99 rubles. This forecast was given to socialbites.ca by BCS World of Investments analyst Denis Buivolov.
“The new regulation in the form of mandatory standards on the sale of foreign currency to exporters is a factor that has a positive impact on the strengthening of the ruble, but the details of the measures taken and the names of the companies covered by it are not disclosed. The new decree or the minimum threshold for the refund of compulsory income has not yet been published. We see some strengthening of the ruble, but overall its reaction is still quite limited; “At the end of the week, the dollar was trading above 97 rubles,” he said.
According to Buivolov, if the dollar exchange rate does not return to the 95-96 ruble zone in the near future, new tests of the 100 ruble level cannot be ruled out.
“But this is unlikely; Next week, companies will begin to prepare for the tax period, which will further increase the volume of foreign currency on the market and help the ruble. We also draw attention to oil prices, which, after the decline, have again set their sights on the North Sea benchmark Brent level of $90 per barrel. Buivolov stated that the escalation of tension in the Middle East continues and that the “military premium” continues to exist in black gold prices, which are traditionally sensitive to events in this region.
Russian President Vladimir Putin on Wednesday introduced mandatory sales of foreign exchange earnings for some exporters. The decree affects 43 Russian export groups belonging to the fuel and energy complex, ferrous and non-ferrous metallurgy, forestry and chemical industries, and grain production.
What will be the ruble exchange rate after Putin’s decision on the sale of foreign exchange earnings? material “Newspapers.Ru”.
Previously in Russia excluded Strengthening of the ruble exchange rate to 60 rubles per dollar.