Next week the dollar exchange rate will strengthen and cost 95.5 rubles. Due to Russians’ panicked demand for money. This forecast was given to socialbites.ca by BCS Forex analyst Anatoly Trifonov.
“Our forecasts on the over-the-counter market show that the dollar is currently strengthening to 95.5 rubles per dollar, but we do not rule out a slight correction in the exchange rate next week as panic demand subsides. “The official exchange rate of the Central Bank may change even more – we do not expect much movement in the sale of foreign currency due to high bank spreads (the difference between the buying and selling rates of the currency – socialbites.ca),” the analyst said.
He predicted that Russians would purchase significant amounts of foreign currency despite inflated rates at banks.
According to Trifonov, now is an extremely inopportune time for foreign exchange transactions; It would be wiser to let the financial market calm down in a week or two. Most likely, banks’ competition for customers will lead to some reduction in spreads and the demand for money will also fall, the financier said. The expert still believes that spreads will remain high.
Trifonov admitted that there is a high probability that the euro and the dollar will become extremely unattractive currencies for a long time due to increasing spreads.
On June 12, the United States imposed blocking sanctions against the Moscow Stock Exchange and National Clearing House (which mediates transactions in the foreign exchange market on the exchange – socialbites.ca). What this will lead to is in our material.
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