Next week, the ruble is expected to trade in a corridor roughly between 88 and 93 per US dollar. This outlook comes from Albert Koroev, who heads the stock-exchange expert department at BCS World of Investments, and who shared the forecast with socialbites.ca. The projection reflects a continuing pattern in which the ruble sways with shifts in capital flows, domestic policy signals, and global energy markets. Observers note that any sustained movement toward the middle of the 88-93 range would depend on a combination of stabilizing oil prices, steady demand for Russian currency from exporters, and a measured pace of monetary tightening by the central bank.
In the near term, interest rates are likely to hover within the 88-93 range and drift gradually toward a central point. Oil remains a key driver: Brent crude trades above $80 per barrel, which tends to support ruble resilience through higher export revenues. Yet, exporters are still required to conduct foreign exchange sales to meet regulatory and operational needs, which can temper the currency’s gains. Market participants will be watching for any shifts in fiscal and monetary policy, especially changes that could emerge in the second quarter of 2024, as such moves would influence liquidity and the ruble’s trajectory in the months ahead. [Source: Market observers and central-bank communications]
On the Moscow Stock Exchange at 9:02 Moscow time, the dollar traded around 90.7 rubles on March 7, representing an increase of about 11 kopecks from the previous session. The ruble strengthened notably during the session, with the dollar nearing the 90 ruble mark for the first time since early February. The euro slipped to a three-week low just under 98 rubles, while the yuan dipped to roughly 12.47 rubles—the weakest level seen since the start of February. These movements illustrate the mixed drivers at play: global risk sentiment, commodity prices, and the domestic policy calendar all contribute to daily currency swings. [Source: Moscow Exchange and regional financial updates]
Since February, the ruble has firmed by a few percentage points against major peers, aided by the ongoing regime of foreign currency earnings repatriation by exporters and the sustained high ruble interest rates. Additional support comes from rising government spending and robust demand for foreign exchange from foreign companies operating in Russia. Conversely, factors that could weigh on the ruble include elevated import costs, persistent global inflationary pressures, and a larger-than-expected outflow of capital if external financial conditions tighten. Taken together, these dynamics create a delicate balance that keeps the ruble within a broad range while occasionally triggering sharper intraday moves. [Source: financial market analysis and central-bank commentary]
Analysts including Mikhail Vasiliev, who previously led Sovcombank’s research team, have commented on currency depreciation pressures observed in the euro, noting how cross-border capital flows and energy market developments interact with regional exchange rates. The overall tone remains cautiously constructive for the ruble in the near term, provided oil markets stay stable, exporters continue to manage currency risks effectively, and the central bank maintains a measured policy stance. [Source: market commentary and institutional analyses]