Analysts differ in their forecasts for the ruble exchange rate for March 2024: some believe that the national currency will strengthen, while others expect further declines against the dollar. Expert survey was conducted RBC.
At the end of February, the dollar-ruble exchange rate increased by 1.26% to ₽91.15, and the euro exchange rate increased by 1.06% to ₽98.61. The expectation of sanctions created anxiety in the foreign exchange market last month. However, the restrictions turned out to be softer than the market expected.
Strengthening of the ruble in March is predicted by SberСIB (up to 87-88 rubles per dollar), VTB My Investments (lower end of the range of 87-92.5 rubles) and BCS Forex (90-91 rubles per dollar).
Analysts stated that many factors will support the national currency in March. These include the mandatory sale of foreign currency earnings by exporters, the activities of the Ministry of Finance of the Russian Federation and the Bank of Russia in the open market, the tax period and the domestic demand for foreign currency.
Some market experts predict that the ruble will fall further against the dollar. Therefore, Rosselhozbank expects a temporary slight weakening of the national currency to the level of 91-95 rubles per dollar.
Some experts believe that the dollar will continue to trade at 90-95 rubles.
Before that, the head of the Central Bank of the Russian Federation, Elvira Nabiullina statedthat the ruble exchange rate has no “artificial supports”.
Previously at Bank of Russia named The seizure of Russian assets is a negative signal to the world.
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Source: Gazeta
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