The financier predicted the dollar exchange rate to 86 rubles this week
This week, the dollar on the over—the–counter market may trade in the range of 82-86 rubles, the euro — 95.80–99 rubles, and the yuan - 12.20-12.80 rubles. This was stated on September 21 by "Izvestia" Andrey Loboda, a member of the RASO and the expert council of the Association of Forex Dealers on the development of the over-the-counter financial market.
The Central Bank of Russia has set official exchange rates for September 19: dollar — 84.1 rubles, euro — 96.6 rubles, yuan — 12.5 rubles. According to the Moscow Stock Exchange, on September 21, the yuan exchange rate was around 12.5 rubles.
"The Russian foreign exchange market maintains sideways dynamics, however, this week the exchange rates of foreign currencies may break out of the established ranges. The movement of the ruble will be influenced by the price of Urals oil, the situation in the Middle East, as well as budgetary and inflationary risks," the expert said.
Loboda clarified that the dollar has been held in the range of 83.69–84.91 rubles for seven trading days. The Russian currency is supported by the high cost of Urals oil, which provides significant export revenue and additional oil and gas revenues to the budget.
At the same time, the financier noted that the current stability of the ruble remains unstable. Changes in oil prices or new news from the Middle East can quickly affect the foreign exchange market.
According to the expert, the most likely scenario for the coming week is the exit of the dollar from the current range. With the strengthening of the ruble, the US currency may decline to 82.64 rubles, but Loboda considers a move towards 85.29 rubles more likely. In the medium term, the benchmark of about 90 rubles per dollar remains. By the end of the year, if the budget and inflationary situation deteriorate, the exchange rate may exceed 95 rubles.
The euro, according to the analyst, is currently trading in the range of 95.80–98.26 rubles. If the ruble weakens, the nearest benchmark will be 99.16 rubles, after which the exchange rate may approach the psychologically significant mark of 100 rubles. With an improvement in the external background, the European currency, on the contrary, is able to decline to a support level of about 94.30 rubles.
The yuan is currently around 12.20 rubles. Loboda called the range of 12.27–12.75 rubles the main benchmark for the Chinese currency for the coming week. With increased pressure on the ruble, the yuan may quickly move to the upper part of the corridor — to 12.65–12.75 rubles.
According to the expert, the high cost of Urals remains one of the factors supporting the Russian currency, however, accumulated budgetary and inflationary risks are gradually creating conditions for an increase in the value of foreign currencies.
Yelena Marchuk, Deputy Chairman of the Board of "National Savings Bank" JSC, said on May 26 that sharp fluctuations in exchange rates in recent years have changed the behavior of private investors, as attempts to choose the right moment to buy dollars or euros are increasingly unsuccessful. The expert noted that the exchange rates are simultaneously influenced by oil prices, the policy of the Central Bank, sanctions and the expectations of the population.
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