In February, the dollar will cost 87-95 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 Plekhanov Ayaz Aliyev.
“The ruble exchange rate is affected by many factors. The most influential now are geopolitics, oil, monetary policy of the Central Bank of the Russian Federation and administrative measures. The rate probably won’t change much unless force majeure occurs.
The economist said the 87-95 range would be the most likely.
He explained that a strong weakening of the ruble exchange rate would lead to increased inflation, with which the Central Bank is actively fighting. Strengthening the national currency does not benefit the budget either.
“The renewal of the budget is also very important for the financial authorities. The most comfortable level will be about 90 rubles per dollar.
It should be taken into account that planning foreign exchange purchases starting from 2024 may weaken the ruble. The tax period will exhaust its effect on the exchange rate. According to the signals from the Central Bank, no further increase in interest rates is expected. Aliyev stated that oil is now largely dependent on geopolitics and conflicts that have lost their intensity.
The economist concluded that Russians’ demand for foreign currency is no longer a strong factor.
According to the Moscow Stock Exchange, the cost of the dollar at 10:17 Moscow time is 90.7877 rubles. Compared with the previous closing level, the American currency fell by 36.48 kopecks.
Previously “socialbites.ca” saidWhat will happen to the ruble exchange rate in 2024?