The ruble’s current strengthening is being read as a move toward balance rather than a sudden surge in prices, according to Alpha Capital Analyst Alexander Dzhioev as reported by Izvestia. In his view, what we see now is a return to equilibrium, a correction after a period of volatility driven by shifts in sentiment and external developments rather than a rapid, unsustainable rise in value. He emphasizes that this rebound reflects underlying stability rather than a blip in the market, highlighting that the trend is more consistent with a rebalancing process than with a dramatic spike in costs or a speculative rush.
The analyst points to a sequence of influential factors that explains the ruble’s trajectory. The April depreciation, he notes, carried a distinctly emotional tone. In that moment, investors weighed geopolitical headlines alongside the ongoing divestment of assets by foreign companies operating in Russia. Since then, a combination of calmer expectations and stabilizing fundamentals has helped offset some of those earlier shocks, enabling the currency to regain some of its lost ground. The overall pattern suggests that sentiment is gradually aligning with economic realities rather than distorting them through periodic bursts of fear or euphoria.
Dzhioev adds that the longer-term improvement in the ruble hinges on a number of supportive elements. Inflation remains measured, which supports purchasing power and price stability, while the current account shows a surplus that bolsters confidence in the currency. Meanwhile, forecasts for the Russian economy point toward a modestly improving outlook, a factor that further underpins the currency’s strength. Taken together, these indicators create an environment where gradual appreciation is plausible, provided there are no unexpected shocks or abrupt shifts in policy that could disrupt the balance. The overall message is one of careful optimism rather than rushing to conclusions about a sustained and rapid surge in value. (Izvestia)
On May 13, Leonid Khazanov, a candidate of economic sciences, weighed in with observations about possible fluctuations in the dollar exchange rate. He cautioned that the rate can move in response to a variety of drivers and advised against hasty currency transactions. His assessment aligns with a broader view that the ruble is gaining strength under multiple influences. He cites several concrete factors: the Bank of Russia maintaining its key rate, upcoming dividend payments from some firms, exporters converting earnings accumulated around the May holidays, and lingering concerns about a potential default in the United States. Each element contributes to a climate where the ruble may continue to firm up, yet the path remains uncertain and contingent on evolving conditions in global markets. (Izvestia)