The expert named the reasons for the strengthening of the ruble

The ruble is strengthening due to several key factors, including the weakening of the dollar, the growing interest of foreign investors in Russian assets, and active currency sales by the Bank of Russia and exporters. This opinion was shared by Natalia Pyrieva, a leading analyst at Cifra Broker, in an interview with Izvestia on April 21.

"To a large extent, the strengthening of the ruble is due to the fall in the dollar index due to the tariff war between the United States and other countries of the world, as well as the growing attractiveness of Russian assets in the eyes of foreign investors in anticipation of improving relations with the United States and reducing the risk of investment in Russia," she said.

According to her, this is reflected in the positive balance of the financial account of $13 billion in the first quarter of 2025, which is associated with the growth of foreign direct investment.

"The current account amounted to $19.8 billion, which indicates a balanced supply and demand of the currency. Additional support for the ruble is provided by the net sales of the yuan by the Bank of Russia, which increased to 10.46 billion rubles per day in April," the expert explained.

However, in her opinion, the current growth of the ruble is temporary.

"We do not expect this situation to persist for a long time. Falling oil prices will reduce foreign exchange earnings, and import demand may recover. The trade surplus may decrease significantly," she warned.

Spring growth: why the ruble soared against the yuan

The Russian currency has strengthened by 20% in three months and continues to grow

On April 8, the Central Bank of Russia reported that the ruble strengthened in March due to a good trade balance and demand for ruble assets. At the same time, it is noted that due to the geopolitical situation and signals of maintaining tight monetary policy, the Moscow Exchange index showed negative dynamics in March.