The exchange rate of the dollar and the euro against the ruble fell due to Russia’s balance of payments statistics and the onset of recession in Europe. Nikolai Ryaskov, general director of PSB Management Company, expressed his opinion on this issue to socialbites.ca.
The exchange rate of the European currency is negatively affected by the news that a recession has begun in Germany and may begin in other European countries.
“In general, we have a neutral assessment of the future of the European currency and expect its value at the end of the year to be in the range of 96-97 rubles per euro,” Ryaskov said.
In addition, according to today’s expert, the ruble was significantly supported by the published statistics on the balance of payments, in particular, a significant decrease in the volume of imports to the Russian Federation. In this context, the dollar exchange rate fell below 89 rubles for the first time in the last 4 months.
“We are still carefully evaluating the data received and awaiting final confirmation in mid-December. Our target range at the end of the year remains around 95-100 rubles per dollar, but we do not rule out revising forecasts for the strengthening of the ruble exchange rate if preliminary data on imports are confirmed.” the expert explained.
In his opinion, private investors should not try to make money from exchange rate fluctuations because it is too risky. It is better to diversify assets to insure exchange rate risk.
previously analyst named Ruble exchange rate ceiling until the end of 2023.
Previously “socialbites.ca” saidWhen to buy foreign currency?