The decline in oil prices in the world, the revival of imports and the high expenditures of the state budget in Russia currently pose three risks for the ruble exchange rate. This opinion was expressed by BCS World of Investments stock exchange expert Dmitry Babin in a conversation with socialbites.ca.
“Adverse conditions in the commodity market may prevent the strengthening of the ruble exchange rate in the future. Prices of oil and many other major Russian exports are near their lowest levels in recent years. This situation causes export revenues to be insufficient, which limits the inflow of foreign currency into the domestic market. “This situation, together with the revival of imports and high state budget expenditures, creates the risk of the ruble falling again,” he said.
Babin explained that the potential of such a move is still limited due to the key interest rate policy of the Central Bank of the Russian Federation, as well as high requirements for the return and sale of foreign currency earnings.
The ruble exchange rate quickly returned to an upward dynamic after a negative start in trading on the Moscow Exchange. At the beginning of the main trade, the growth of the ruble exchange rate slowed down; Quotas failed to exceed the monthly maximum level reached yesterday against most currencies. According to foreign exchange data at 15:11 Moscow time, the cost of the dollar is 89.0498 rubles, while the euro is 97.711 rubles. Compared with Tuesday’s closing level, the price of the American currency fell by 84.77 kopecks, and the price of the European currency fell by 56.4 kopecks.
former financier named The reason for the strengthening of the ruble exchange rate.