A stable ruble exchange rate is a must; It is important to keep the dollar within 90-100 rubles. This opinion was expressed by Andrey Loboda, economist and director of communications at BitRiver, in a conversation with socialbites.ca.
“Critical events took place from the spring of 2023 to the end of summer. During this period, the country experienced a noticeable devaluation of the ruble by almost 30%. Then the ruble weakened from 70 rubles to almost 100 rubles per dollar. We are experiencing the unpleasant effect of this today. Exchange rate stability is a must. “At least in the range of 90-100 rubles per dollar,” the economist noted.
He explained that this is very important in terms of protecting the real incomes of Russians. According to Loboda, the purchasing power of the ruble is decreasing due to inflation.
Loboda emphasized that Russia has many resources and tools to achieve the 4 percent inflation target. The economist suggested that with such a safe monetary policy of the Central Bank of Russia, the 4 percent target will be achieved in the next year or two.
He also pointed out that for the first time in 15 years, savings in bank deposits were well above inflation.
The expert added that official inflation in Russia will not exceed 10% at the end of the year, and bank deposits today will provide at least twice as much return.
Denis Buivolov, formerly BCS World of Investments analyst guess Next week’s dollar, euro and yuan rates.
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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.