If US President-elect Donald Trump continues his tax reduction and economic stimulus policy, the dollar exchange rate may reach 110 rubles by the end of the year, which may lead to a strengthening of the dollar. This forecast was given to socialbites.ca by Petr Shcherbachenko, associate professor at the Financial University of the Government of the Russian Federation.
“Depending on the reaction of markets and economies by the end of the year, the dollar may be in the range of 97-104 rubles. The extent to which the dollar strengthens may depend on the level of economic activity and demand for the currency. “If the current negative factors continue, the limit may reach 110 rubles per dollar, but this is a rather pessimistic forecast scenario,” the economist admitted.
On the over-the-counter market on November 14, the dollar cost 100.2 rubles; this is a record since October 2023. Candidate of Economic Sciences, BCS World of Investments stock market expert Mikhail Zeltser explained the rise of the American currency as “the effect of Donald Trump’s victory in the US presidential elections.”
How long will it take for the dollar to strengthen and is it time to sell the currency? material “Newspapers.Ru”.
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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.