Economist Nikolai Kulbaki notes that the dollar exchange rate has been weakening at the start of the week, driven by challenges faced by foreign goods suppliers. In the context of ongoing American sanctions, the local market rate remains sensitive to the actions of these suppliers, according to his remarks in 360.ru.
The analyst explains that exporters continue to be the dominant source of foreign currency for the country, while the firms bringing in foreign goods are the ones purchasing dollars. The exchange rate is shaped by the balance of these positions in the market.
He stressed that the most immediate impact of sanctions will be reflected in the dollar rate. If exporters encounter difficulties, the rate tends to rise; if importers encounter problems, the rate can ease. At present, it is clear that importers are facing notable issues.
Kulbaka predicts a continued decline in the short term for the dollar, while the ruble is expected to face a longer-term depreciation against major currencies.
Earlier forecasts suggested Russians would keep buying dollars and euros for overseas travel. It was noted that cash remains in use due to disruptions in non cash payments, and the yuan is not widely accepted everywhere.
There were also claims from investment strategists about the direction of the yuan, dollar, and euro in the coming week, highlighting the broad uncertainty surrounding currency movements and the influence of sanctions on trade flows and financial markets.