The expert spoke about a possible May drop in the dollar to 70-75 rubles.

With the current over-the-counter exchange rate of about 76.5 rubles per dollar, there is a possibility that as early as May the exchange rate may drop to 70-75 rubles. This was announced on April 12 by Ilya Fedorov, Chief Economist of BCS World of Investments.

"In many ways, the further dynamics of the exchange rate will depend on export prices. The probability of the dollar going into the range of 70-75 rubles in May is not zero," Fedorov said in an interview with RIA Novosti.

According to the expert, the foreign exchange market is now virtually on its own, since the Ministry of Finance of the Russian Federation, which buys foreign currency to replenish the National Welfare Fund (NWF) under the budget rule, is not present on the market at high oil prices.

Fedorov believes that until the Ministry of Finance resumes buying foreign currency to replenish the National Welfare Fund, the ruble will remain strong.

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Spartak Sobolev, Head of Alfa-Forex's Investment Strategy Research department, said on April 6 that this week the dollar, euro and yuan exchange rates are likely to continue to decline within the ranges of 76.50–82 rubles, 89-94 rubles and 11.15–11.80 rubles, respectively. On April 4, the Central Bank of the Russian Federation set the exchange rate of the American currency at 79.7 rubles, the European currency at 92.1 rubles, and the Chinese currency at 11.5 rubles.

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