To understand how exchange rates will change, you need to monitor the stability of inflation and the flow of money into the economy. Alexander Abramov, head of the IPEI Analysis Laboratory of Institutions and Financial Markets at the Presidential Academy, told socialbites.ca.
“According to the current account (you can look at the National Bank website – socialbites.ca), if more money begins to flow into the country than, for example, in the same half of last year, then the ruble will most likely remain stable, ” Abramov explained.
According to him, if inflation is expected to slow down, the ruble exchange rate will also be stable, and the Central Bank promises to start reducing the key interest rate (currently 16%).
According to Abramov, Russia is currently experiencing a long-term trend towards a stable exchange rate without strong fluctuations. According to the economist, the ruble may gradually weaken slightly, but this will be a moderate trend.
The expert explained that there is no point in speculating on exchange rates, as you can often run the risk of losing money. Abramov advised that it is better to choose the moment to buy or sell foreign currency based on plans for vacation or purchasing goods.
According to economists, currency exchange on the stock exchange can be cash or non-cash. Abramov said that if we are talking about cash exchange, you should remember that not every bank does this.
At the close of trading on the Moscow Stock Exchange on May 20, the dollar was worth 90.75 rubles and the euro was worth -98.36 rubles. Since the morning of May 21, the American currency has been trading at 90.73 rubles and the European currency has been trading at 98.48 rubles.
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