Gref said that there are no signs for a significant weakening of the ruble

There is no room for a serious weakening of the ruble today, and therefore the dollar rate at the end of the next year, 2025, will be approximately 112-115 rubles per U.S. unit. This was stated by the head of Sberbank German Gref on December 6, speaking at the Investor Day.

Gref recognized that there is indeed some weakening of the Russian currency at present, but no "surprises" are expected here. The rate of the Russian currency will fluctuate depending on the situation.

"Now we do not see any space for such a significant weakening of the ruble so far. We have calculated the equilibrium rate, which should be today, taking into account inflation. It is approximately - I used to say that at the level of 90-95 [rubles per dollar], today it is approximately 100-105, this is the corridor that should be today. At the end of 2025 it will be around 112-115," Gref said. The broadcast was conducted on Sberbank's website.

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Earlier, on December 5, stock market analyst of MC "Alfa Capital" Alina Poptsova said that in early 2025, the ruble exchange rate may stabilize in the range of 102-105 per dollar. She also believes that in December and early next year the ruble may remain under pressure. This will be influenced, among other things, by higher inflation, problems with the receipt of foreign currency earnings from exporters, the decline in world oil prices.

Before that, November 28, finance and investment expert, founder of the financial club "Multiplier" Evan Golovanov suggested that the dollar may trade at the end of winter at around Br96-98. At the same time, the expert noted that in the long term there is a trend for further weakening of the ruble.