Next week the dollar will cost 91-93 rubles. This forecast was given to socialbites.ca by Alexander Bakhtin, investment strategist at BCS World of Investments.
“At the same time, the dollar exchange rate may trend towards the lower limit of this range. Local support for the ruble should be provided during the tax period, which will peak in Russia on March 25 and 28. We also think that after the rise of the American currency, the situation in the global foreign exchange market will stabilize, the dollar index DXY may return to 103 points, which will allow other currencies, as well as commodity prices, to improve their positions. The expert explained.
added this protection The key rate of 16% on March 22 is positive for the national currency. Bakhtin added that temporary controls on the repatriation and sale of export proceeds and the Central Bank’s foreign exchange interventions complete the set of factors supporting the ruble.
The investment strategist cited high budget expenses, pressure on export revenues, the strengthening of the global dollar and geopolitical deteriorations as obstacles to the strengthening of the Russian currency.
According to the Moscow Stock Exchange, the cost of the dollar at 15:56 Moscow time is 92.7 rubles.
Previous Analyst appreciated The reaction of the ruble exchange rate to the interest rate decision of the Central Bank.
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Source: Gazeta
Ben Stock is a business analyst and writer for “Social Bites”. He offers insightful articles on the latest business news and developments, providing readers with a comprehensive understanding of the business world.