The dollar exchange rate may reach 100 rubles before the end of the year. This forecast was given to socialbites.ca by BCS World of Investments analyst Denis Buivolov.
“It is possible for the dollar to reach the triple-digit level, but the probability of this is less than 50 percent. On the one hand, the exchange rate is only a few rubles away from the psychological signal of 100 rubles per dollar. A sharp geopolitical downturn, a strong correction in raw materials and the bar may not survive. On the other hand, technically foreign currencies are overheating and we can expect a downward correction in the yuan, dollar and euro in the near future,” Buivolov explained.
He listed the factors that support the ruble: the tight monetary policy of the Central Bank of Russia, the significant increase in the net foreign exchange sales volume within the framework of the fiscal rule, and the price of Brent oil at 80 dollars per barrel.
Buivolov explained that the ruble could strengthen if the sanctions pressure focuses more on imports. At the same time, if the restrictions are more related to export restrictions, this will become a factor that will cause a more significant weakening of the ruble. According to the expert, devaluation contributes to the acceleration of inflation, which the Central Bank is clearly not interested in.
More details material “Newspapers.Ru”.
The price of the dollar on the over-the-counter market on October 8 is 96.19 rubles.
Previously expert explained Ruble falling to last year’s lowest levels against yuan.
What are you thinking?
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.