The continuing weakening of the ruble is raising concerns about rising inflation and possible decisions by the Central Bank of the Russian Federation on the key rate.
On November 28, the official dollar exchange rate was 108.01 rubles, indicating a significant drop compared to previous months.
Experts note that a sharp weakening of the ruble could lead to a 2.4% increase in prices in the coming months, as emphasized in an expert article in Vedomosti .
Deputy Chairman of VTB Dmitry Pianov emphasizes that a 10% fall in the exchange rate could significantly accelerate inflation.
Over the past three months, the dollar exchange rate has strengthened by 20 rubles, which has sharply added about 2.4% to inflation.
In addition, given the rising dollar exchange rate, the Central Bank may have to raise the key rate to contain the acceleration of inflation.
Experts' forecasts indicate a further increase in inflation by the end of the year if the weakening of the ruble continues.
The situation is aggravated by sanctions and high interest rates, which negatively affect the Russian economy.
Experts warn that the weakening of the ruble could have a critical impact on imports and consumer prices.
Questions and Answers (FAQ)
Question 1 : Why is the dollar rising in Russia?
Answer: Experts believe that the dollar is rising due to the fluctuating political situation and the lack of currency in the market.
Question 2 : Who controls the dollar exchange rate?
Answer : The dollar exchange rate is influenced by economic indicators, supply and demand for currency, the level of inflation and political events in the world.
Question 3: When will the dollar fall in 2024?
Answer : Analysts expect the dollar to weaken to 1.12 per euro in 2024 and to 1.15 per euro in 2025 due to lower interest rates in the US.
