The dollar exchange rate will gradually strengthen next month. This view emerged in our interview with Gazeta. Ru,” said Nikolay Ryaskov, General Director for Investments of the Management Company PSB.
According to the expert, the exchange rate is currently 88 rubles per dollar. This is due to market concerns about the forced sale of foreign exchange earnings by exporters, the sale of foreign currency from the National Welfare Fund and sanctions against the National Clearing House, and secondary sanctions against foreign banks that have bilateral agreements with Russian counterparties.
“We believe that the value of the dollar will gradually increase, targeting 90 rubles,” Ryaskov said.
According to him, if the exchange rate remains below this level for a long time, adjustments can be made to the program on the compulsory sale of foreign exchange earnings of exporters.
Before that, it was known that Russian officials could. to reduce The mandatory threshold for repatriation of proceeds for exporters has been increased from 90% to 50-70%, and the foreign exchange sales period has been extended until the end of 2024.
Experts believe that such changes may affect the strengthening of the ruble and predict consolidation in the first quarter of 2024.
Formerly Bank of Russia rejected the idea of u200bu200bmanaging the ruble exchange rate in the period of inflation targeting.