Until the new year, the ruble is likely to remain within a wide range of 76-80 paired with the dollar and 89-93 paired with the euro, Artem Tuzov, executive director of the capital market department at Univer Capital, told Izvestia on Monday, November 9.
According to him, the ruble exchange rate does not react to the very fact of the possible victory of Democrat Joseph Biden in the US elections, but to investor sentiment and the dynamics of stock markets.
“After the elections were held, the uncertainty factor disappeared from the agenda and the stock markets were rather optimistic about the possible victory of Biden. The growth of the US, European and Asian stock exchanges also had a positive effect on Russian indices, as a result of which the ruble strengthened. So we should not expect a direct relationship between the election of a new president in America and the value of our national currency, ”said Artem Tuzov.
At the same time, a candidate from the Democratic Party may initiate new sanctions, which will affect the ruble, the executive director of the capital market department believes. Also, a decrease in oil demand due to a new round of the pandemic may affect the exchange rate of the domestic currency, the economist noted.
In the future, the ruble will be influenced by investor interest in risk, including in ruble assets, as well as the possibility of new sanctions and oil quotes, Tuzov concluded.
The official exchange rate of the dollar by the Central Bank as of November 10 was 76.95 rubles, the exchange rate of the euro – 91.49.
In late October, banking experts and independent analysts interviewed by Izvestia linked the weakening of the ruble to the geopolitical environment.
The day before, on November 8, Fox News reported that representatives of Joseph Biden’s headquarters had sent a request to the oversight department in the American administration to recognize him as the elected President of the United States.
On November 7, US media outlets, including Fox News, the Assosiated Press, CNN and NBC, reported that Democratic candidate Joe Biden had won the required electoral votes to become the US President-elect.
In turn, Trump called himself the winner and stressed that he intends to achieve a review of the results in court.