You should not expect any radical deviations from the current ruble exchange rate. This was stated by Assistant to the President of Russia Maxim Oreshkin in an interview with Moskovsky Komsomolets.
According to him, the Russian currency is now strengthening due to a reduction in temporary capital outflow and stabilization of the balance of payments. However, the further course depends on the volume of reduction in temporary capital outflow, repayment of external debt and repurchase of foreign assets.
“The ruble is now strengthening and may strengthen further. But in general, you shouldn’t count on any drastic deviations of the ruble exchange rate from the current equilibrium values,” added Oreshkin.
Now the ruble is in a growing trend, which may last until the end of the year, says Freedom Finance Global leading analyst Natalya Milchakova, writes the Banki.ru portal. In her opinion, the dollar in the coming days may trade at 86–90 rubles, the euro at 95–99 rubles.
Experts explained that the main factor in the strengthening of the Russian currency is the presidential decree on the mandatory sale of foreign currency earnings by exporters. High oil prices along with expectations of an OPEC+ meeting next week, a high key rate of the Central Bank of the Russian Federation and market expectations of a new increase in December are also working in favor of the ruble. In addition, support is provided by the beginning of the tax period, as well as the expectation of additional revenues from the excess profit tax to the budget.
As of 9:25 Moscow time on November 22, the dollar is trading at 88 rubles, the euro at 96 rubles.
Source: Rosbalt
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