Next week the dollar rate will be between 88 and 93 rubles. This forecast was given to socialbites.ca by Albert Koroev, head of the department of stock exchange experts at BCS World of Investments.
Interest rates will probably stay in the 88-93 range in the coming days and move towards the middle. While oil prices remain stable above $80 per barrel Brent, Russian exporters continue forced foreign exchange sales and interest rates remain high. The financier noted that some changes in these conditions may be more likely in the second quarter of 2024.
According to the Moscow Stock Exchange, the cost of the dollar at 9:02 Moscow time on March 7 is 90.7 rubles. The exchange rate of the American currency increased by 11 kopecks compared to the closing level on March 6. The ruble strengthened noticeably in trading on the Moscow Stock Exchange on Wednesday. The dollar approached 90 rubles for the first time since the beginning of February, the euro set a three-week minimum at just below 98 rubles, and the yuan fell to 12.47 rubles for the first time since the beginning of February.
Since February, the ruble has strengthened by 3% against other currencies. The tax period in Russia, the mandatory sale of foreign currency earnings by exporters and high ruble interest rates play in favor of the national currency. Rising government spending and high foreign exchange demand from foreign companies play against the ruble.
Mikhail Vasiliev, formerly chief analyst of Sovcombank explained “socialbites.ca” depreciation of the euro.