Forecaster predicts ruble’s rise against the dollar in April

Economic analyst Mikhail Vasiliev, in an interview with the Prime agency, expected that in April the ruble exchange rate would stabilize in the range of 74-79 rubles per dollar.

“Historically, April is one of the best months for the ruble. Over the past 16 years, in April, the ruble has strengthened against the dollar 11 times,” Vasilyev said.

He stressed that the inflow of foreign exchange from exports will remain high, and a positive balance of payments is expected.

He pointed out that there is a possibility of increasing the sale of the “yuan” and, as a result, the dependence of the ruble on fluctuations in oil prices may decrease, which will increase the stability of the Russian currency.

He noted that the geopolitical situation still poses a threat to the ruble. Oil and gas revenues are also expected to decline due to sanctions and energy price fluctuations.

Source: News

Related Stories

Leave a Reply