Russians should buy dollars and euros without specifying a date if money is needed. Also, if you don’t need it, sell regardless of deadlines. This opinion was expressed in an interview with socialbites.ca by Alexander Abramov, head of the laboratory for analysis of institutions and financial markets at the Institute of Applied Economic Research of the Presidential Academy.
“I do not expect a serious change in the dollar and euro exchange rates in April, but there may be a strengthening trend in these currencies. I think the dollar will be in the range of 90-92 rubles and the euro will be in the range of 99-101 rubles. “I don’t see any signs of change in investment behavior as the exchange rate will change minimally,” he said.
According to him, the mechanism of selling foreign exchange earnings in Russia will weaken, which will slightly weaken the ruble exchange rate. Abramov added that another risk is a slight decrease in the volume of foreign exchange sales by the Central Bank and the Ministry of Finance to the market. According to him, with moderate stability of foreign exchange inflows to Russia, investment imports will grow faster, which means that companies will need additional foreign currency to purchase machinery and equipment. This could also weaken the ruble somewhat. However, Abramov concluded that these factors were not so fundamental and that a high interest rate (16%) and functioning currency control measures would support the Russian currency.
According to the Moscow Stock Exchange, at 11:49 Moscow time the cost of the dollar is 92.6 rubles, while the euro is 100.5 rubles.
former financier guess Weakening of the ruble after March 28.
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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.