The dollar-to-ruble exchange rate fell to 78.49 for the first time since May 2023, according to the Central Bank. Since the beginning of the year, the American currency has weakened by almost 22%.
Factors of ruble strengthening
Experts interviewed by Vedomosti believe that the current strengthening of the ruble may continue provided that hopes for progress in negotiations between Russia and the United States are maintained or until the authorities take measures to curb the strengthening of the national currency.
Experts' forecasts
- Sovcombank chief analyst Mikhail Vasiliev believes that the dollar exchange rate could reach 76–77 rubles.
- However, further strengthening of the ruble could have a negative impact on exporters and the country's budget.
Consequences of the strengthening of the ruble
The strengthening of the ruble can have both positive and negative consequences for the country's economy. On the one hand, it can help reduce inflation and increase the purchasing power of citizens. On the other hand, it can negatively affect exporters who receive revenue in foreign currency.
Dollar exchange rate prospects
In the short term, the dollar exchange rate may fluctuate depending on various factors, including negotiations between Russia and the United States, as well as the actions of the authorities to regulate the foreign exchange market.
In the long term, the dollar exchange rate may stabilize if the economic situation in the country improves and inflation decreases.
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