Will the ruble weaken again next year? This was stated by independent financial analyst Konstantin Tserazov, who was quoted by Gazeta.ru.
According to his forecast, in the first quarter of 2024, the ruble exchange rate will likely continue to fluctuate in wide ranges of 88-95, 97-105 and 12.25-13.25 against the dollar, euro and yuan. At the same time, in the coming months, exchange rates will most likely not go beyond the current corridors. However, the Russian currency may begin to weaken in the second quarter if the authorities do not extend the decree on the mandatory sale of foreign currency earnings.
Presumably, a decision should be made in April. Without this measure, the ruble is unlikely to maintain stable values. Additional pressure will be exerted by high budget expenses and the country’s strong dependence on imports, and to support the currency it may be necessary to limit it, the specialist added.
Note that in recent days the ruble has become cheaper at auction. The dollar exchange rate exceeded 92 rubles. The US currency rose 1.28% for the first time since December 11, 2023. The euro is trading above 101 for the first time in almost two months. According to experts quoted by RBC, pressure on the ruble is exerted by the traditional end-of-year increased demand for foreign currency.
Source: Rosbalt
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