Rapid pique. In Russia, the active fall of the ruble continues
news.online.ua
Wed, 27 Nov 2024 19:11:00 +0200
The Russian ruble continues its sharp declineThe fall of the ruble is facilitated by the new package of US sanctions against the Russian economy, in particular against Gazprombank, one of the largest currency suppliers in the country.The day before, the Central Bank of the Russian Federation set the dollar rate at 105 rubles per dollar and 110.49 per euro.
The forecast was spelled out in the draft federal budget adopted by the State Duma and the Federation Council.In November, Russian Finance Minister Anton Siluanov said that the supposed weakening of the ruble is helping exports.
The Ministry predicted an average dollar exchange rate of 103 rubles by 2027, The Bell wrote.
Such a forecast was written in the draft federal budget approved by the State Duma and the Federation Council.However, the ruble is depreciating faster than the departments forecasts.
Experts point to the price of oil and the speculative component, i.e., the exchange game on the weakening of the ruble, among the possible reasons for the reduction in the inflow of currency.The rubles official exchange rate, set by the central bank, broke above 100 against the dollar this week for the first time since October 2023 amid fears of a further escalation in Russias standoff with the West.
The ruble has been falling since Ukraines invasion of Russias Kursk region began on Aug.
6 and has since lost about 20 against the dollar, LSEG data show.
In Russia, the collapse of the ruble continuesIn Russia, the active collapse of the ruble continues.
The Russian authorities urgently try to put out the fire, only slightly lowering the exchange rate, which after an hour began to rise again.Since the beginning of the year, the ruble has lost 16 of its value against the dollar, and experts predict further weakening of the Russian currency.The Russian currency continues to fall during the last day, and the authorities cannot stop the collapse.
The key reason for the weakening of the ruble is the significant outflow of capital from the Russian stock market, which has fallen by more than 20 since the beginning of the year.
Investors massively transfer funds from stocks to deposits, which offer interest rates higher than the record base rate of the Central Bank of the Russian Federation 21.Experts predict that by the end of the year the ruble exchange rate may fall to 115120 per dollar.
They say that the Russian government and the Central Bank should take measures, including forcing exporters to sell more currency and reducing government purchases.Sanctions against the Russian financial sector also play a key role.
They have complicated foreign trade operations, especially in the oil and gas sectors, causing a shortage of foreign exchange.
Despite this, oil prices remain stable, helping exporters to benefit from a weak ruble.
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