Home Business Financier Babin assessed the prospects for the weakening of the Russian ruble

Financier Babin assessed the prospects for the weakening of the Russian ruble

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Federal News Agency
Federal News Agency

Dmitry Babin, an expert on the stock market at BCS World of Investments, suggested what the ruble exchange rate will be like in the future.

Now the exchange rate of the Russian currency has reached an equilibrium level in the range from 56.3 to 57.3 per dollar. However, imports to the country are recovering weakly due to low demand for foreign currency, Prime writes.

“At the same time, despite the abolition of the mandatory sale of export earnings, exporters probably continue to sell it, both to cover domestic Russian expenses and to pay taxes,” the agency’s interlocutor noted.

Sanctions risks are also affecting, because of which many companies are afraid to hold foreign currency. At the same time, the need to quickly tighten the monetary policy of central banks may lead to a drop in global demand for raw materials.

“Therefore, if world markets continue to fall, accelerating the decline in prices for oil and other raw materials, this will reduce the inflow of foreign currency into the country, returning the dollar well above 57 rubles,” Babin emphasized.

Earlier, the chairman of the Russian Central Bank, Elvira Nabiullina, did not rule out the use of cryptocurrencies in international payments.

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