Trap for dollar revealed in August

A weakening of the US dollar should be expected in August as demand for the US currency has decreased due to anti-Russian sanctions. Analyst Elena Mikhailova told the agency about this Hit the lining.

The economic restrictions introduced led to a strengthening of the ruble, a decrease in imports, a decrease in the volume of cross-border capital movements and a decrease in tourist flows.

At the same time, the importance of the dollar in the foreign exchange market decreased and the reputation of the currency was damaged due to illegal sanctions.

Previously, senior risk manager Vitaly Manzhos, in the fall can be expected more or less large-scale depreciation of the ruble against the dollar as a major foreign currency. This should not be connected with the expected further lowering of the key rate of the Central Bank of the Russian Federation. Such a model in the national exchange rate works only when foreign investors have free access to the Russian financial market and are not afraid of their assets being frozen. There are currently serious restrictions on the cross-border movement of capital.



Source: Gazeta

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