The exchange rate of the Russian national currency against the American currency in 2024 will be relatively stable, 80–90 rubles per dollar is predicted. Financial expert, investor, partner of Barclay Financ Azam Khodzhaev told Izvestia about this.
The day before, according to the Moscow Exchange website, the dollar was trading around 90.5 rubles.
“An optimistic view of the future of the ruble in 2024 is due to several key factors. First, Russia has demonstrated the ability to adapt to international sanctions and strengthen its economy through domestic production. Secondly, refocusing on trade relations with Asian countries helps reduce dependence on the West and ensures the stability of the foreign trade balance,” the expert explained.
At the same time, the investor noted that strengthening the role of small businesses in the country’s economy, as well as the active use of innovative financial instruments, such as crowdlending, help increase demand for the ruble and stimulate innovation and economic growth. According to him, this creates the preconditions for strengthening the national currency.
Speaking about negative factors, he clarified that the global economy and politics are still full of uncertainties, including possible new geopolitical conflicts, fluctuations in oil and other commodity prices, as well as the risks of a global economic downturn. All this can put pressure on the ruble exchange rate and lead to its fluctuations.
“Based on the analysis of current and potential trends, we can say that the ruble to dollar exchange rate in 2024 will be relatively stable and will not exceed 100 rubles per dollar. Expected fluctuations are within 80–90 rubles per dollar. Considering the current increase in the role of small businesses and the spread of crowdlending as a financing tool, we can expect an improvement in the economic situation in the country. This will make the ruble more attractive to investors and help strengthen its position in the international arena,” says Khodzhaev.
Earlier, on December 7, the head of the Russian Ministry of Finance, Anton Siluanov, said that the stabilization of the ruble exchange rate was influenced by measures to control the return of foreign currency earnings, which were taken by the government and Russian President Vladimir Putin.
At the beginning of December, the head of the investment strategy research department at Alfa-Forex, Spartak Sobolev, gave a forecast according to which the maximum values of the dollar this month could be 93.5–95 rubles per US currency, and the euro could trade in the range of 100–102.5 rubles .
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