Demand for currency this year will be provided by an increase in imports of foreign goods into the country, while the supply of currency from exporters will decrease due to falling prices in commodity markets. All this will shift the demand for foreign currencies, Bogdan Zvarich, chief analyst at the Banki.ru financial supermarket, said on January 27.
According to his forecasts, the Chinese yuan, the Hong Kong dollar, and the UAE dirham will grow against the ruble in 2023. The exception will be the currencies of countries with problems in the economy and those that maintain a loose monetary policy with high inflation (Turkish lira).
Moreover, the purchase / sale of currency within the framework of the budget rule will not play a decisive role in the exchange rate of the ruble, he stressed.
“It is especially worth noting the growth in the number of investment instruments in yuan, which allows not only to buy currency, but also to receive interest income. Such instruments are deposits and bonds of Russian companies denominated in yuan,” the analyst explained to the agency. “Prime”.
Zvarich believes that the yuan is the most viable option for diversification. The currency is one of the world’s leading economies, besides, the trade turnover between Russia and China will only grow in the near future, which will increase business interest in the currency of this country.
Earlier, Acting Head of the Department of Statistics at the State University of Management (GUU), Doctor of Economics Nikolai Kuznetsov predicted a gradual weakening of the ruble in the coming months.
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