Dollar: Russians warned of a rebound in the dollar

“Expert” drew attention that the dollar won back losses against the ruble, and the euro went up. According to analysts interviewed by the publication, in the summer the Russian currency will face another blow.

“Expert” notes that investors are worried about tensions in US-China trade relations, as well as protests in the States, accompanied by pogroms.

Anton Pokatovich from BCS Premier believes that on June 3 the ruble will continue to grow due to the preparation of Russian companies for the summer dividend period. In his opinion, a dollar on the Moscow Exchange will cost 68.30-69.70 rubles.
US protests hit the dollar
Denis Poryvay from Raiffeisenbank believes that in the third quarter of 2020, the Russian currency will be in the range of 72-74 rubles per dollar.

“In June, we do not expect a reversal, but further on the Russian currency will have serious problems,” he said.

According to Sophia Donets from Renaissance Capital, on average in 2020 the dollar will cost 76 rubles. She explained that after lifting the restrictions imposed because of the coronavirus, demand for non-food products will recover, and then there will be a noticeable decrease in oil production.

“And this factor, in turn, will hurt the ruble, which from July will gradually begin to lose its current position,” said Donets.

Evgeny Nadorshin from PF Capital believes that in mid-June the rate will be set at 72-74 rubles per dollar, and by autumn the dollar will cost 80-85 rubles.
Sergei Romanchuk from Metallinvestbank said that the Russian currency could fall to 80 rubles per dollar in the event of a second pandemic wave.
According to Rambler, earlier the dollar fell below 69 rubles for the first time since March 6. Analysts attributed this to higher oil prices, lower Central Bank rates, lower imports and lower demand for foreign currency.
Alor Broker chief analyst Alexei Antonov said that by the end of 2020, the exchange rate of the Russian currency could drop to 90-100 rubles per dollar. According to him, this could happen due to falling oil prices and a weakening economy against the backdrop of a pandemic.

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source: rambler