The expert explained the current depreciation of the dollar in the Russian market

Today, the economy and business don't really need the dollar, so they don't buy it. The current depreciation of the dollar in the Russian market reflects the real balance of supply and demand. This was stated by Georgy Ostapkovich, scientific director of the HSE Center for Market Research, in an interview with Izvestia on October 15.

According to him, economic agents and banks are currently not actively interested in buying the US currency, which determines its current price.

However, the expert cautioned against jumping to conclusions based on short-term fluctuations.

"I would not make any cosmic or fundamental conclusions on one- or two-day trading. Maybe there were two or three major players who bought or sold the currency. We can see a decline in the dollar today, tomorrow and the day after tomorrow, and then see it rise for 3 days," Ostapkovich said.

The specialist expects continued volatility in the foreign exchange market in the near future. At the same time, he stressed that from the point of view of the interests of the Russian economy and budget, an excessively strong strengthening of the ruble is undesirable. For the budget, the dollar should be around 90 rubles, Ostapkovich concluded.

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On October 14, 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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