In 2022, the ruble has a high chance of strengthening, if geopolitical troubles do not happen. As reported by Prime, Andrey Kochetkov, a leading analyst of the Otkritie Investments global research department, said this.
“Further tightening of the monetary policy of the Central Bank of the Russian Federation does not seem so obvious anymore. Therefore, we can assume that cash flows will turn towards the Russian debt market, which will also provide the ruble with additional support that will overpower the impact of the budget rule, ”he said.
The analyst added that if the downward trend in inflation begins to intensify, the strengthening of the ruble will take place in the first half of the year.
“If inflation continues to accelerate, then the Central Bank of the Russian Federation will be forced to raise the key rate again, but this will only temporarily postpone the start of the rally in the Russian currency,” he continued.
According to Kochetkov, by the end of 2022 the dollar will cost about 70.0 rubles, and the euro – about 77.7.
Source: Rosbalt
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