During the trading session on Friday, the Russian currency initially fell sharply and hit a new weekly low. The dollar reached 90.4 rubles, the euro exceeded 98 rubles. Then the ruble recovered its daily losses and began to recover.
Subscribe to RB.RU on Telegram
BCS World of Investments stock market expert Dmitry Babin shared with RB.RU his opinion on what will happen to him next.
“The ruble may be supported by the desire of many speculatively minded market participants to profit from weekly highs in the exchange rates of major currencies against the ruble. Furthermore, after its active strengthening this month, many fear that this trend will resume,” says the specialist.
If we talk about the long-term planning horizon, then, according to the expert, the ruble may continue to depreciate moderately due to a probable imbalance between the demand for foreign currency and its supply, caused by a quantitative reduction in exports due to sanctions and the geopolitics. A significant increase in state budget expenditures can also have a negative impact on the exchange rate.
Of course, the planned increase in the key exchange rate at the next meeting of the Bank of Russia may also have an impact on the exchange rate.
Previously we wrote about what currency risk is and talked about assessment and management methods and methods.
Author:
Nikolai Tikhonov
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
