The main reason for the growth of the dollar and the euro was a significant decline in oil prices, Olga Veretennikova, vice president of the Borsell analytical company, told Izvestia on March 16. The expert drew attention to the fact that the cost of WTI oil fell below $70 for the first time since the end of 2021.
“The decline in oil prices was due to the fact that against the background of the threat of a growing banking crisis in the United States, investors’ fears about the onset of a recession have increased dramatically,” the analyst explained.
At the same time, according to her, the rate may continue to grow.
“If oil prices do not begin to recover in the near future, then the dollar exchange rate may approach 80 rubles per $1,” Veretennikova concluded.
Earlier that day, the dollar exchange rate at the auction of the Moscow Exchange exceeded 77 rubles for the first time since April 20 last year, but later, as follows from the data on website exchange, by 13:51 dropped to 76.26. The euro rose above 82 rubles, then dropped to the level of 80.9 rubles.
On January 30, First Deputy Minister of Economic Development of Russia Ilya Torosov said that the Ministry of Economic Development expects an exchange rate of 70 rubles per $1 on average in 2023. At the same time, according to him, a wider range on average for the year is 68-72 rubles.
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