Economist predicted the future ruble exchange rate

Vladimir Grigoriev, PhD in Economics, financial expert, predicted the future of the ruble exchange rate on Wednesday, November 20.

The day before, the Central Bank of Russia raised the official dollar rate above 100 rubles, RT reports. The currency reached this mark for the first time since October 10, 2023.

The economist noted that by the end of the year imports traditionally grow, respectively, the demand for currency from importers increases, and this, combined with the fall in foreign currency earnings, creates pressure on the ruble.

He added that there is a fairly stable segment of currency buyers in Russia, who firmly believe that it is a more reliable investment than rubles, which also creates a significant demand.

Grigoriev expressed confidence that geopolitical tensions are increasing instability in the market.

"Although it is not confirmed by US officials, it seems that it will indeed be possible to use long-range weapons to strike Russian territory. Of course, this also always has a negative impact on the market. People in panic begin to think that prices will rise, the ruble will fall, let's buy currency," he said in a conversation with Lenta.Ru.

He admitted that the dollar rate could move up to Br103-105.

Earlier, November 19, head of investment strategy research department of Alfa-Forex Spartak Sobolev in a conversation with "Izvestia" suggested that this week the dollar could rise to Br102, euro - to Br107, the yuan - to Br14. According to him, pressure on the ruble is exerted by the aggravation of geopolitical factors, as well as the strong position of the dollar in the world after the election of the new US president.