The expert spoke about the prospects of the ruble exchange rate this week

The Russian currency has been strengthening in the direction of 79 rubles per dollar, 91 rubles per euro and 10.90 rubles per yuan since the opening of the weekly session. Spartak Sobolev, head of the Alfa-Forex Investment Strategy Research department, told Izvestia on October 14.

On October 14, the Central Bank of the Russian Federation set the exchange rate of the American currency at 80.8 rubles, the European currency at 93.9 rubles, and the Chinese currency at 11.2 rubles. At the same time, according to the Moscow Exchange, on October 14, the yuan is trading at 11.2 rubles.

"The ruble's growing momentum after the end of the third quarter has not been exhausted due to a reassessment by the market of expectations for a change in the monetary policy of the Bank of Russia. High rates make the national currency more attractive, and demand for foreign currency is recovering at a slower pace than previously expected. We expect quotes to consolidate below the levels of 82.50 rubles per dollar, 96 rubles per euro and 11.50 rubles per yuan by the end of the week," Sobolev said.

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Earlier that day, Maxim Chirkov, Associate Professor of the Department of Economic Policy and Economic Measurements at GUU, told Izvestia that the decline in the estimated dollar exchange rate below 80 rubles indicates the fundamental undervaluation of the Russian currency and reflects the strengthening of the competitiveness of the domestic economy.

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