MOSCOW, 14 Aug – The ruble against the dollar may well weaken in autumn for a number of reasons, including the decline in energy prices and the introduction of a new budget rule, told Vitaly Manzhos, senior risk manager of Algo Capital, to Prime agency.
“It would be wrong to link this possibility with the expected further reduction of the key rate of the Central Bank of the Russian Federation,” the agency’s interlocutor emphasized. This works with the free access of foreign investors to the financial market and the possibility of withdrawing funds, which is not happening now.
Thus, it is not easy to predict the dynamics of the ruble exchange rate now. It can be supported by high prices for hydrocarbons and weak imports, in turn, the introduction of a new budget rule will turn the tide in the opposite direction. Based on the technical picture, in the next few weeks the dollar will cost 55-68 rubles.