The economist named the reason for the fall of the dollar against the ruble

The reason for the dollar's depreciation against the ruble may be related to the actions of the Central Bank of Russia. This opinion was expressed by economist Mikhail Belyaev on Friday, May 23.

According to the economist, all fundamental exchange rate-forming factors suggest that the ruble should weaken against the dollar, but this is not happening.

"But the fact is that, if earlier the ruble exchange rate was exchange-traded and it could be somehow predicted, now the Central Bank is forming it based on over-the-counter transactions. Mainly to the Forex market, which is mainly emotionally speculative," Belyaev explained in a conversation with Lenta.Ru .

Belyaev recalled that the Central Bank also relies on bank statements, but it is not clear in what proportion. All this makes the exchange rate of the Russian currency unpredictable.

The greens are still: what is happening in the Russian foreign exchange market

What will happen to the ruble and is it time to run for dollars?

The day before, the dollar exchange rate reached the level of 78.96 rubles for the first time since May 2023, RT reports.

At the same time, experts do not rule out that the dollar exchange rate may rise above 90 rubles, and the euro may reach 100. According to Lazar Badalov, associate professor of Economics at RUDN University, this could happen in the summer of 2025. According to the economist, the revenue of exporters will play a role in the weakening of the ruble, writes Moscow 24.

Evgeny Baboshkin, Head of Business Development at Prime Brokerage Service, told Izvestia on May 16 that the Russian currency has been strengthening against the US dollar and the euro for five months in a row. According to the expert, the main factor contributing to this trend was a significant decrease in the volume of purchases of foreign currency by Russian legal entities.