In the coming week, the ruble may weaken as the currency of friendly countries is bought, the tax season approaches, and the G7 countries impose caps on oil and gas from Russia. About this “Prime Minister” declaration Oleg Syrovatkin, Lead Analyst for Otkritie Investments Global Research.
“There have been at least two verbal interventions against the Russian currency in the last ten days. Therefore, the Ministry of Finance may start purchasing friendly countries’ currencies in a test mode as early as September. In addition, the September tax period is still a long way off, and it usually gets stronger as the ruble approaches,” Syrovatkin said.
According to him, another factor in the weakening of the ruble may be the G7 countries’ imposition of border prices for oil and gas from Russia. While there are no more precise details on this matter, the slightest change could trigger speculative sales of the ruble.
He added that the basic forecast also assumes that the dollar rate will increase against the ruble in the region of 69 rubles by the end of 2022. Therefore, the weakening of the ruble now makes more sense than its strengthening.
September 2, BCS World of Investments expert Evgeny Mironyuk declarationIt is likely that they will issue 80 rubles per dollar by the end of 2022, with a significant increase in the volume of currency redemption by the state under the new budget rule compared to the pre-pandemic ones.
Source: Gazeta
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