Analysts Explain How Long the Ruble's Weakening Will Last
The Central Bank continues to set the dollar exchange rate above 100 rubles for the second day in a row.
In 2023, the dollar rose above this mark only three times.
In an interview with Vedomosti, experts explained how long the ruble could remain at this level.
Sergey Konygin, an economist at the Sinara investment bank, noted that the imbalance between supply and demand on the currency market is putting pressure on the ruble.
The easing of conditions for the sale of currency by exporters has reduced trading volumes on the Moscow Exchange.
It is possible that companies are withholding foreign currency income and using ruble loans to pay taxes.
Economist Pavel Ryabov believes that a shortage of currency and a weakening of the ruble may continue until sanctions are eased.
Problems with foreign currency earnings and foreign currency accounts of Russian companies also contribute to pressure on the ruble.
Strengthening of the American currency. Among other things, Donald Trump's victory in the US elections will contribute. Strengthening of the dollar in turn will affect the price of oil and other raw materials, which will also affect the ruble.
Despite Russia's distance from international financial markets, fluctuations in energy prices continue to affect the ruble.
For reference
Exchange rate is the price of the monetary unit of one country expressed in the monetary unit of another country.
