Experts announced the "over-strengthening" of the ruble exchange rate

At the auction on February 25, the ruble exchange rate rose to the levels of August 2024 — at the moment it was trading to 85.75 per dollar and 90.2 per euro, according to Forex market data from TradingView. Since the beginning of the month, the national currency has strengthened by 15%, and since the beginning of the year — by almost 25%.

At a soaring rate: how long the ruble strengthening will last

Russian currency reacts to Putin-Trump phone call with rapid growth

"In February, a unique situation of "over—strengthening" of the ruble exchange rate was created in the Russian foreign exchange market," Finam analysts said.

Finam noted that the national currency is growing amid news about negotiations on the Ukrainian conflict and the establishment of a dialogue between the Russian authorities and the American ones. Its strengthening by only 1 ruble may lead to a reduction in oil and gas revenues by about 113 billion rubles, Olga Belenkaya estimated. Assuming that the national currency retains a value of about 86 per dollar (the most unfavorable case for the budget), the treasury will receive at least 1.13 trillion rubles.

Vladimir Chernov, an analyst at Freedom Finance Global, stressed that the national currency exchange rate of about 90-95 per dollar is the most comfortable for the state. At the same time, its strengthening would lead to a slowdown in inflation, as prices for imported goods would decrease. Nevertheless, according to experts, it is highly likely that the ruble will return to previous levels even without government intervention.

Read more in Izvestia's exclusive article:

Velmi is lower: will the authorities have to weaken the excessively strong ruble