The limit of dollar strengthening in December will be 93-95 rubles, and the euro will be 102-105 rubles. This forecast was given to socialbites.ca by Candidate of Economic Sciences, Associate Professor of the Department of Finance at the Russian University of Economics for Sustainable Development. GV Plekhanova Ayaz Aliyev.
“Such signals will be caused by high foreign exchange demand and foreign trips before the New Year. The dollar generally strengthens in December. However, growth above these levels does not seem possible. Dollar and euro will be traded in these ranges until the end of the year. This is the equilibrium rate at the moment, considering the current situation,” explained the economist.
Aliyev explained the weakening of the ruble exchange rate against the dollar and euro by the demand for them from financial market participants. According to the economist, investors see that the dollar is oversold and are buying it back.
“This is confirmed by the actions of the Ministry of Finance of the Russian Federation. “The Ministry has determined the budget of one dollar as 90 rubles, it follows that the dollar will not be allowed to fall too much,” Aliyev said.
More details material “Newspapers.Ru”.
On Tuesday, the dollar rose to 92.02 rubles and the euro rose to 99.59 rubles on the Moscow Stock Exchange for the first time since November 13.
former financier reportedincreased money demand is now weakening the ruble exchange rate.
Source: Gazeta
Ben Stock is a business analyst and writer for “Social Bites”. He offers insightful articles on the latest business news and developments, providing readers with a comprehensive understanding of the business world.