The dollar and euro rate perspectives for 2023 were discussed by Vladimir Chernov, an analyst at Freedom Finance Global, during an interview with RT. Chernov suggested that the ruble would move against major currencies in the near term, with notable shifts expected in response to global market dynamics. The analyst noted that the ruble began 2023 weaker against the US dollar and the Chinese yuan while showing strength against the euro.
He explained that the depreciation of the ruble has been linked to a broader decline in world oil prices, which reduces Russia’s export revenues and can dampen demand for the local currency. This connection between commodity prices and currency performance is a central theme in many market analyses and reflects the sensitivity of the ruble to energy markets. Chernov attributed the ruble’s weakness to falling oil prices, while also acknowledging that macroeconomic factors could offset some pressure in the longer term. [Freedom Finance Global]
According to Chernov, the European currency could rise to around 80 rubles in the coming week or two, while the US dollar might trend toward 75–80 rubles over 2023. These projections illustrate a scenario in which the ruble experiences mixed movements against major currencies, shaped by oil price trajectories and external demand for Russia’s energy exports. [Freedom Finance Global]
As of 14:25 Moscow time, the Moscow Stock Exchange quoted the US currency at 71.86 rubles and the euro at 75.63 rubles. Market movement on this day reflected ongoing volatility in currency markets, a common feature in years of heightened global financial activity. Recent developments included a drop in Brent North Sea crude below $78 per barrel, marking the first time since December 12, 2022 that prices had slipped to such levels. This price action points to renewed sensitivity of Russian export income to oil benchmarks. [Market Data]
Earlier in the week, the euro rose to around 76 rubles for the first time in 2023, while the dollar traded near 71.47 rubles. Analysts cited by market participants highlighted the potential for ruble strengthening after the January holiday period, with opinions echoing those of Oleg Syrovatkin, a principal analyst at Otkritie Investments Global Research. The evolving narrative suggested that the ruble might firm up as investors weighed commodity fundamentals and geopolitical factors. [Otkritie Investments]
Overall, the discussion underscores how oil price movements, currency demand, and macroeconomic signals interact to shape short-term and mid-term currency trajectories. While Chernov’s forecast paints a path of possible ruble weakness against the euro and strength against the dollar in certain windows, traders and observers continue to monitor oil markets and sanctions-related developments for clues about future currency strength. [Market Commentary]