Russians surveyed believed that the average dollar exchange rate in the fall of 2024 will be 94 rubles. These are data from an electronic survey conducted by the online financial platform Webbankir on June 13-15, just after the US imposed sanctions on the Moscow Stock Exchange on June 12. socialbites.ca has its results.
“What do you predict will be the exchange rate of the ruble against the dollar in the autumn of 2024?” Answers to the question fluctuated in the range of 35 rubles. Up to 200 rubs. for a dollar. The final indicator was calculated as the median value.
60.7% of survey participants believe that current sanctions will not have any impact on their personal finances. 29.3% believe the results will be negative. On the contrary, one in ten people expect changes for the better. Only 14.3% of respondents reported using Moscow Exchange services, and only 11.1% said they had savings in dollars or euros.
Survey participants also evaluated the consequences of the sanctions imposed on the Moscow Stock Exchange on the Russian economy. It was revealed that 68.2 percent of the respondents were aware of the incident. 56.9 percent believe that this will not have a negative impact on the economy or even be beneficial. Therefore, 26.8% are confident that Russia has already adapted to external restrictions. The other 7.8% explain their stance by saying that the new sanctions are very unimportant. Finally, 22.3% even see the advantages of the current situation: in their opinion, after the dollar and euro leave the stock exchange, trade with friendly currencies such as yuan will develop more actively.
Of those who believe that a blow to the Moscow Stock Exchange would have bad consequences (43.1%), 28% expect it to be “moderately negative” and affect individual companies trading abroad. Only 15.1% of respondents reported “strongly negative” outcomes, with entire sectors suffering.
According to 28.8%, the absence of currency trading will not affect the exchange rate in any way. However, the majority (37.6%) tends to believe that the value of the ruble will decrease against the dollar and euro. On the contrary, 33.6% of respondents are optimistic about the national currency.
At the same time, more than half of the respondents (50.8%) agree that a “black” foreign exchange market may arise in the country, where the exchange rate will differ from the official rate. Another 28.3% believe that such a prediction is possible, although possible. 20.9% believe that there will be no unofficial currency trading in Russia.
“The survey results were somewhat paradoxical. On the one hand, it is clear that Russians believe in the strength of the domestic economy and the ability of their monetary authorities to cope with current challenges. “On the other hand, the halt of dollar trading on the Moscow Stock Exchange has revived memories of times when currencies from unfriendly countries were banned, an unrealistic scenario in the current environment,” he said.
More than 1.3 thousand people aged 18 and over across Russia participated in the survey.
Previously “socialbites.ca” saidWhat sanctions against the Moscow Exchange will lead.
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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.