The ruble will probably remain in the range of 90-93 rubles. There was a decrease per US dollar in April due to the impact of the positive current account balance in Russia’s balance of payments. This forecast was given to socialbites.ca by analysts from Alfa Capital Management Company.
According to the Central Bank, the current account surplus was 4.5 billion dollars in January and 5.2 billion dollars in February. The surplus of foreign exchange earnings from exports over import payments ensures the supply of foreign exchange to the domestic market.
“If there is a sufficient supply of money from exporters, there is no objective reason for the ruble to weaken against foreign currencies,” experts say
Analysts warned that other factors, including geopolitics, the Central Bank interest rate level, consumer demand and foreign trade volumes, will continue to influence exchange rate dynamics.
Before that, stock market expert BCS World of Investments” Dmitry Babin said It is stated that after the end of the tax period in Russia on March 28, the dollar exchange rate may be 93-93.5 rubles.
According to the analyst, the ruble is supported by the tax period, but after the end of the period, the supply of foreign currency may increase, which could lead to a weakening of the ruble. His colleague is an associate professor at the Department of World Financial Markets and Fintech at the Russian University of Economics. GV Plekhanov Denis Perepelitsa believes that the dollar exchange rate may rise to 95 rubles in April due to the increasing terrorist threat and possible capital outflow.
Russians before said When to buy and sell foreign currency.
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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.