In trading on the Moscow Stock Exchange on March 12, the ruble exchange rate updated its weekly minimum, losing 0.6% against most major currencies due to a decline in Russia’s exports. This opinion was expressed by BCS World of Investments stock exchange expert Dmitry Babin in a conversation with socialbites.ca.
“The pressure on the ruble may gradually increase due to the quantitative decrease in exports due to sanctions and geopolitics. “Although the same factors will also reduce imports, this will reduce the imbalance between foreign exchange demand and supply,” he commented.
However, Babin concluded that the imbalance may persist due to the influence of the Russian Federation’s increased budget expenditures and the relatively high volume of capital withdrawn from the country.
In Moscow Exchange trading on March 12, the dollar rate rose to 91.1 rubles. (+50 kopecks to the closing level on Monday), euro – up to 99.8 rubles. (+40 kopecks).
Candidate of Economic Sciences, Associate Professor at the Department of Global Financial Markets and Fintech at the Russian University of Economics. GV Plekhanova Tatyana Belyanchikova in conversation with socialbites.ca accepted Temporary weakening of the ruble after the Russian presidential elections. According to his estimate, the cost of the dollar may be 95-98 rubles.
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