The ruble may strengthen this week, says Yaroslav Ostrovsky, a specialist at the Department of Strategic Research at Total Research. He told Izvestia about this on March 18. At the same time, in his opinion, the dollar will trade in the range of 91–93 rubles, the euro – 98–101.
According to the data site Moscow Exchange, at 14:58 the European currency was worth 100 rubles, the American currency was 91.9.
“The main event that influences all market parameters is the meeting of the Bank of Russia, which will be held on March 22. The market expects the key rate to be maintained at the current level of 16%. Therefore, the most important driver for the market will be the comments of the Central Bank of the Russian Federation on the current monetary policy. Considering that in annual terms inflation increased to 7.69% in February, the rate cut, which was expected in the second quarter, may be postponed to a later date. This may contribute to a slight strengthening of the ruble,” the expert explained.
According to him, the second factor that may affect the exchange rate is the sale of foreign currency earnings by exporters at the end of the month. But it will probably happen next week.
“Therefore, this week we can expect a slight strengthening of the ruble, while trading ranges will most likely remain the same: for the dollar – 91-93, for the euro – 98-101 rubles per unit of currency,” Ostrovsky concluded.
Earlier that day, economists interviewed by Izvestia reported that after the announcement of the results of the presidential elections in the Russian Federation, they do not expect sharp jumps in the exchange rate of the national currency. Olga Veretennikova, vice-president of the Borcell analytical company, suggested that in April, when the influence of the tax period ends, the exchange rate may weaken and consolidate in the range of 90–92 rubles per dollar and 100–102 rubles per euro.
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