The ruble may not stand the test in August

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    Changes in the exchange rate of the ruble against the backdrop of a special operation in Ukraine

    In August, a turning point in the ruble exchange rate may occur, because those factors that have strengthened the national currency since March begin to weaken. Economists reported.

    “It can be assumed that the ruble exchange rate has again returned to the long-term trend of gradual weakening. Fluctuations in both directions are not excluded, but it is unlikely that in August the dollar will fall below the mark of 58 rubles, a rise to 64-65 rubles is more likely, ”the site quotes MK.RU TeleTrade Chief Analyst Mark Goykhman. While the exchange rate is mainly influenced by the ratio of foreign exchange earnings from exports and demand from importers, the first factor is already weakening, he said.

    The head of the analytical department of AMarkets Artem Deev said that in August the ruble will rise to 65-70 rubles. He noted that this will happen due to a reduction in energy demand as a result of a slowdown in the economies of developed countries. According to him, the negative effect of the sanctions is also growing. Private investor Fyodor Sidorov also said that the ruble would weaken, otherwise exporters’ profits would suffer and the budget would receive less revenue. This will happen because the import is being restored. “Secondly, the onset of a global recession (which no one denies) will lead to a weakening of the currencies of developing countries, including Russia,” he said. In the coming weeks, the dollar will be at the level of 55-65 rubles, Vladislav Antonov, a financial analyst at BitRiver, predicts.

    The exchange rate of the ruble against the dollar began to fall sharply after the start of the special operation of the Russian Federation in Ukraine and against the backdrop of Western sanctions. Then the national currency strengthened. The Russian authorities called the ruble exchange rate too strong and noted that they were discussing a return to the indicator of 80 rubles per dollar. Earlier, the Central Bank raised the official dollar rate by 2.06 kopecks to 60.258 rubles, writes Vse42.ru.

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