Alina Poptsova predicted the ruble exchange rate in November to be in the range of 13.5–13.9 yuan and 95–98 dollars.
A stock market analyst at Alfa Capital Management Company explained what the November ruble exchange rate will depend on.
At the beginning of November, the ruble began to lose support due to a number of new factors, Izvestia reports.
The Bank of Russia has tightened the conditions for attracting foreign currency liquidity. Since October 28, interest rates on these transactions have been equal to the key rate of the Central Bank of the Russian Federation.
In addition, the daily limit on currency transactions has been reduced.
These measures are aimed at minimizing the impact of the Central Bank's operations on the market and limiting the activity of banks in attracting financing in yuan.
Rising demand for yuan liquidity in August and September worsened the situation.
Poptsova explained that tightening of currency transactions in the short term could provoke a currency deficit. And this will negatively affect the ruble exchange rate.
However, the current account surplus and rising rates on ruble deposits are supporting the ruble.
This increases the attractiveness of the ruble and curbs capital outflow.
