The expert spoke about the movement of the ruble this week

Since the beginning of December, the ruble has continued to consolidate below the level of 80 rubles per dollar, 91 rubles per euro and 11.20 rubles per yuan, maintaining the upward trend this week. Spartak Sobolev, head of the Alfa-Forex Investment Strategy Research Department, told Izvestia about this on December 8.

On December 8, the Central Bank of the Russian Federation set the exchange rate of the American currency at 76 rubles, the European currency at 88.7 rubles, and the Chinese currency at 10.7 rubles. At the same time, according to the Moscow Stock Exchange, on December 8, the yuan is trading at 10.8 rubles.

A sensitive drop: the ruble is weakening against the yuan

Experts predict the formation of exchange rate corridors against the American and Chinese currencies

"There are no significant pressure factors on the ruble yet, the additional volume of foreign currency supply from the monetary authorities allows ruble instruments to continue strengthening towards the levels of 75 rubles, 85 rubles and 10.50 rubles per dollar, euro and yuan, respectively. Since the beginning of this year, the Russian currency has recovered against the dollar by almost 25%. Today, the ruble remains a sought—after instrument for traders and investors," Sobolev concluded.

Yuri Moseikin, Doctor of Economics, Head of the Department of National Economics at the Patrice Lumumba RUDN University of Economics, said on December 5 that the downward trend in the dollar exchange rate could end before the end of this year. According to the expert, two factors will influence the growth of the dollar: the expectation of an increase in imports after changes in geopolitics and the need to replenish the budget.

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