The Russian currency is under pressure

The Russian currency is under pressure The ruble behaves sincerely unpredictably. When oil fell, the countrywide forex, on the contrary, reinforced. Now, whilst oil is growing, the ruble is declining. Meanwhile, members of the authorities were dreaming all summer that the "timber" will roll right down to the level of 70 in keeping with dollar. And it looks as if their want is coming real. It might seem that every week in the past, the euro collapsed to its lowest degree in almost eight years. And now it has almost gained returned positions, whilst the Russian ruble keeps to actively decline. What turned into the catalyst for the method, and what will show up to the path within the near future, professionals said.Russian News, ANG-News Plus, Russian News 24/7, Google News

“The ruble continues to say no towards the dollar. Increased geopolitical tensions and, at the equal time, the absence of signals for the introduction of restrictions on transactions with toxic bucks and euros positioned strain on the Russian forex. At the identical time, the ruble debt market suggests recuperation dynamics, the deliver of overseas forex from exporters remains at a high stage, and imports are getting better slowly. Nevertheless, due to a combination of things, the dollar in the quick time period may also gravitate closer to the 65 mark. Medium-term dreams within the 65-70 area stay applicable. The mark of 70 rubles consistent with greenback, in line with our estimates, can be reached in November-December.”Russian News, ANG-News Plus, Russian News 24/7, Google News

Andrey Loboda, economist, director of communications at BitRiver:

“Nothing horrible has took place to the ruble yet, the dollar exchange charge is saved in the variety of 63-sixty four rubles, which become determined returned in early August. As soon because the greenback breaks up this level, then its subsequent prevent can be the mark of sixty eight rubles. The aggravation of the situation in geopolitics basically adds nervous tension, but, with a able and very effective economic coverage, the ruble seems like a actual hero. He has been underestimated earlier than. But instances are converting. Already today, the euro may be known as the loser of the yr, and the ruble will essentially be capable of preserve a moderate recuperation. Therefore, for the time being, the dollar at fifty five and the euro underneath 50 rubles are quite practical benchmarks until the cease of the yr. If the weak ruble ends up within the beyond, it is going to be an awful lot simpler for both the authorities and the human beings with a strong national forex.”Russian News, ANG-News Plus, Russian News 24/7, Google News