The ruble exchange rate remains balanced; The oil market will remain in deficit for at least several months. Rossiyskaya Gazeta writes about this referring to financial analysts.
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According to Sovcombank chief analyst Mikhail Vasilyev, over the next week the ruble exchange rate will maintain its established ranges of 87 to 91 rubles per dollar and 95 to 99 per euro, the yuan exchange rate will fluctuate between 12 and 12, 5 rubles.
In his words, the factors of strengthening and weakening of the ruble remain balanced, which gives stability to the exchange rate for seven months. Positive dynamics are responsible for the mandatory sale of foreign exchange earnings for the largest exporters, high oil prices and a surplus on the current account of the balance of payments of the Russian Federation, as well as a temporary decrease in imports due to problems with payments with friendly countries due to Western sanctions and high interest rates on rubles.
Recall that on June 7, the Central Bank of the Russian Federation did not change the key interest rate and left it at 16%, however, at the next meeting on July 26 it may increase it by 1%. According to experts, this will be the case until the end of the year. Banks continue to increase deposit rates to 16-18%, which increases the attractiveness of ruble savings.
As for oil prices, according to the head of the analytical department of Zenit Bank, Vladimir Evstifeev, the value of “black gold” decreased after the June OPEC+ meeting, at which the participating countries agreed on a smooth exit from voluntary restrictions on production from October 2024 to September 2025.
“The very fact of a gradual increase in supply on the market in conditions of moderate growth in demand is negative for the prospects of the oil market,” the expert notes.
However, he believes that the proposed easing of monetary policy by the world’s major central banks could lead to an increase in economic activity in several key countries and, at the same time, greater demand for energy.
Previously we talked about currency risk. They explained in detail what it is about, reported on its types, methods, evaluation and management 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.
