Russian President Vladimir Putin's interview with American journalist Tucker Carlson stopped the slight weakening of the ruble observed this week. Economist and communications director at BitRiver Andrei Loboda told Izvestia about this on Friday, February 9.
“The ruble is indeed getting a little more expensive today. The dollar fluctuates in a narrow corridor of 90–91 rubles, the euro is below 98 rubles. In our opinion, Putin’s interview had an impact on the ruble only from the point of view that the president in the interview assured the whole world that everything was under control and Russia would achieve its goals. Carlson’s question about the fate of the dollar and dedollarization, although the President of the Russian Federation answered it exhaustively, may not have directly affected the ruble, but created a certain confidence in the market that the dollar is not omnipotent,” the expert said.
In his opinion, a more significant impact on the ruble was had by the published data on Russian GDP growth, which exceeded the analysts’ consensus forecast (3.6% against the expected 3.5%).
“In addition, the market is already betting on maintaining the key rate of the Central Bank of the Russian Federation at 16%, the decision will be announced next week. As always, the ruble is influenced by a combination of factors. Next week we expect the dollar to be within 90–92 rubles, the euro – 97–99 rubles. China remains on holiday next week. It seems that the short-term cycle of slight weakening of the ruble against the dollar and euro is over. We see increased optimism in the cryptocurrency market and an increase in its capitalization,” Loboda concluded.
Earlier that day, the ruble exchange rate showed growth at the opening of foreign exchange trading, according to Moscow Exchange data. The driver was Carlson’s interview with the President of the Russian Federation. The dollar exchange rate immediately dropped to 90.54 rubles (-0.39%), the euro – to 97.36 rubles (-0.56%).
In a conversation with an American journalist, Putin said that the share of dollar payments in Russia’s foreign trade had dropped to 13% from about 50% before 2022, which was due to short-sighted US policies.
On October 5, 2023, at the plenary session of the Valdai International Discussion Club, the Russian President said that the global financial system created on the basis of the dollar is gradually collapsing. According to him, the global financial system is not ideal, balanced and meets the interests of all countries.
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