The Ministry of Economic Development believes that equalization of the trade balance will have a stabilizing effect on the ruble exchange rate. This was reported by TASS.
According to the Ministry of Economic Development, the dynamics of the national exchange rate will be affected by fundamental factors, including those related to the trade balance and services balance, which are being adjusted. The Ministry of Economic Development reminded that in order to stabilize the ruble exchange rate, on the instructions of the president, the government has taken measures to limit foreign currency exports and ensure their return to the domestic foreign exchange market.
BCS Forex analyst Anatoly Trifonov had previously expressed his opinion on the ruble exchange rate after the introduction of mandatory sales of foreign currency earnings by exporters. He noted that even if Russian exporters sell 80 percent of their foreign exchange earnings, the ruble exchange rate will not strengthen to 60 rubles per dollar in 2023, as it did last year. According to economist Alexander Isakov, sales revenues can return the dollar to the range of 95-100 rubles
.
Isakov continued: “If the market perceives this decision as the beginning of a trend to close financial accounts, this could stimulate capital outflow and weaken the ruble after the initial increase in foreign exchange sales.”
In Russia in early October in the name Conditions for strengthening the ruble exchange rate against the dollar.
Dzhioev, formerly an analyst guess Strengthening of the ruble exchange rate to ₽85 per dollar.