If voting in the Russian presidential elections takes place without incident, the ruble exchange rate will strengthen next week. One dollar can cost 91 rubles. and less, euro – 98-99 rubles. This forecast was given to socialbites.ca by BCS World of Investments analyst Denis Buivolov.
“By the end of this week, the dollar is moving towards the level of 92 rubles per dollar and may end the week at its current values. By mid-week, the news background had calmed down. The political factor is already included in the quotes. The analyst noted that the strength of the ruble can be achieved not only by certainty, but also by additional sales of foreign currency by exporters on the eve of the tax period.
Buivolov added that there are high rates on the ruble side and these rates will continue after the Central Bank’s key rate meeting on March 22. At the same time, he urged not to count on a significant strengthening of the ruble due to the ongoing imbalance between the limited inflow of export money into the country and the growing demand from importers and the population.
“Therefore, we do not see any compelling reason to revise foreign exchange positions. “If a person earns and spends mostly in rubles, it is optimal to keep about a third of his savings in foreign currency and foreign exchange instruments,” concluded Buivolov.
According to the Moscow Stock Exchange, at 13:46 Moscow time the cost of the dollar is 91.9 rubles and the euro is 99.9 rubles.
Voting in the presidential elections in Russia started on March 15 and will end on March 17.
Previously, former Deputy Governor of the Bank of Russia Sergei Dubinin named “socialbites.ca” base rate level on March 22.