Andrey Kostin believes that the Russian ruble will weaken by the end of 2024.
The head of VTB called the national currency overvalued and predicted a correction.
In a conversation with RBC, the banker admitted that the overvaluation of the ruble is connected with the imbalance between exports and imports.
While deliveries abroad are stable, there are some problems with imports.
Kostin believes that by winter the ruble exchange rate will reach 93-95 per 1 USD. The yuan will also become more expensive, the expert believes.
At the same time, he pointed out that the weakening of the ruble had benefited the budget and the private sector.
He also stressed that the dollar exchange rate in the current reality has ceased to have much significance in Russia.
At the beginning of September, the dollar fell below the 89 ruble mark, and the euro retreated from 100 ruble and settled in the region of 98 ruble.
The yuan consolidated at a level above 12 rubles in early autumn. In the summer, it managed to briefly break through this mark.
