Towards the end of November, the dollar exchange rate may fall below 90 rubles. This forecast was given to socialbites.ca by BCS World of Investments analyst Denis Buivolov, who commented that on Tuesday on the Moscow Stock Exchange the US currency reached the level of 90.3775 rubles.
“According to our forecasts, the ruble will not strengthen significantly from current levels this year. With additional support from the tax period, it is possible for the dollar to test values below 90 rubles towards the end of November. “In the future, taking into account the fall in oil prices in November, which translated into a lagging position of the ruble exchange rate, and in view of the feature of increased budget expenditures towards the end of the year, we, the Expert, can expect the dollar to stabilize around 91-94 rubles,” the Expert said.
Buivolov added that the euro exchange rate could end the year around 96-99 rubles, while the yuan could end the year in the range of 12.2-12.6 rubles.
The dollar exchange rate fell below 91 rubles on Tuesday for the first time since July 28, 2023.
The ruble has been strengthening against the dollar, euro and yuan since the evening of October 11, when it was announced that the forced sale of foreign currency earnings would be returned to Russia’s largest exporters. This trend was also facilitated by the increase in the key rate of the Central Bank of the Russian Federation by 200 basis points to 15% annually and the October tax period. More details material “Newspapers.Ru”.
former financier guess Further strengthening of the ruble exchange rate.