Next week the dollar will cost about 98 rubles, the euro 106 rubles, the yuan 13.7-13.8 rubles. This forecast was given to socialbites.ca by BCS World of Investments analyst Denis Buivolov.
“Next week the ruble may show moderate weakness. The foreign trade imbalance will continue to have a negative impact on the Russian currency as the supply of foreign exchange on the market decreases due to the decrease in exports, while the demand for foreign currency increases as import flows recover. Buivolov noted that the situation may worsen due to seasonal trends specific to the end of the year.
According to him, this trend will be an increase in the monetary liquidity of the economy, in particular – the Ministry of Finance needs time to complete payments for government orders and an intensification of demand for the purchase of imported goods before the New Year.
According to Buivolov, high interest rates and exchange control measures prevent the devaluation of the ruble. Next week, it will be clear that the amount of daily transactions under the fiscal rule will be determined by the financial authorities for the next month. The Russian currency will receive little support if net foreign exchange sales increase, the analyst said.
According to Buivolov’s forecast, the ruble may improve its position at the end of November during the tax period. Yuan can cost 13.5 rubles, one dollar – 95 rubles, and one euro – 102 rubles. The analyst admitted that the negative dynamics in the Russian currency in December will most likely continue.
On October 30, the dollar rate exceeded 97 rubles and the euro exceeded 105 rubles in the over-the-counter market. The yuan was worth the ruble at the close of the Moscow Stock Exchange on Wednesday. I WILL WRITE THIS.
previously economist named Two advantages of a weak ruble.