The ruble was predicted to strengthen to 75 per dollar by the end of June

By the end of June, the ruble will strengthen to 75 per dollar, according to experts from universities and banks interviewed by Izvestia. On June 16, at 18:00, the American was trading at 78.7 rubles. Since the beginning of the year, the national currency has already added 25% in value, and this trend will only intensify in the coming weeks.

Costs of growth: the ruble continues to rise against the dollar and the yuan

Experts gave a forecast of how long the strengthening of the domestic currency will last.

"On Wednesday, June 11, before the long weekend, the ruble fell to 80 per dollar amid increased demand for the currency. However, it later recovered to 79 per dollar in the face of rising oil prices by almost $10 per barrel amid the unfolding Iran-Israel conflict," explained Yuri Popov, senior analyst at SberCIB Investment Research.

With rising oil prices, the revenues of both Russian companies and the country's budget from its exports in ruble terms increase. Consequently, the positive trade balance of the Russian Federation is increasing, recalled Vladimir Chernov, analyst at Freedom Finance Global.

Nevertheless, there are other reasons that support the ruble. For example, the dollar is currently weakening overall against most foreign currencies. This is due to the trade wars that have begun against a number of countries due to US President Donald Trump.

In addition, the Russian Federation currently has a high key rate of 20%. This, in turn, contributes to the attractiveness of ruble savings deposits at 19-20% per annum, said Mikhail Vasiliev, chief analyst at Sovcombank. The rate cools consumer and investment demand, which means importers need less foreign money to purchase goods abroad.

Read more in the exclusive Izvestia article:

Summer condition: the ruble was predicted to strengthen to 75 per dollar by the end of June