The economist predicted the strengthening of the ruble

The ruble retains the potential to strengthen to 72-74 per dollar while maintaining the current dynamics in the oil and foreign exchange markets. Alexander Schneiderman, head of Alfa-Forex's Customer Support and Sales department, told Izvestia on February 20.

"Brent crude oil quotes continue to recover from last year's lows. The key support zone is still the level of $65 per barrel. If the current balance of supply and demand is maintained, as well as in the event of increased geopolitical tensions in the Middle East, the potential for movement above $71 remains," the expert said.

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According to him, the dynamics of oil prices is of systemic importance for the Russian economy through the trade balance channel. The rising cost of raw materials supports export earnings and contributes to the formation of a stable foreign trade surplus, which in the medium term creates fundamental support for the ruble exchange rate.

Schneiderman also pointed out that the downward trend in the dollar against the ruble, which formed in December 2024, remains. The US currency continues to weaken.

"With quotes anchored below the 80-82 ruble range, the market is focused on testing the 72-74 ruble zone by the end of the first quarter," he stressed.

According to the expert, the ruble is further supported by tight monetary policy, the tax period and the moderately positive oil market conditions. He also noted the steady interest of participants in the Russian over-the-counter foreign exchange market.

Spartak Sobolev, head of Alfa-Forex's Investment Strategy Research department, told Izvestia on February 9 that the ruble's strong position was influenced by the increased supply of foreign currency and continued interest in domestic currency amid the high interest rate of the Central Bank of the Russian Federation. He also clarified that a possible gradual easing of monetary policy would deter the Russian currency from excessive appreciation.

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