Foreign currencies may rise in early 2021. This was announced on Monday, December 14, by Artem Tuzov, executive director of the capital market department at Univer Capital.
According to him, the drivers that ensure the strengthening of the ruble will be exhausted. The cost of one dollar will be approximately 75-76 rubles. At the same time, at the beginning of this year, it was just over 60 rubles per dollar.
“For the dollar to weaken so seriously against the ruble, the Russian currency must have strong support in the form of expensive oil. At the beginning of the year, a barrel of oil was traded at about $ 64-66, which allowed the ruble to trade about $ 62-64 with the American currency, “the expert noted.
Tuzov added that currently the cost of a barrel of oil is about $ 50, the rise in the rate occurred after the appearance of data on mass vaccinations in Europe and the United States.
Nevertheless, as the specialist emphasized, there are no prerequisites for a return to pre-crisis indicators.
“The fact is that in the spring many enterprises and borders with countries were quarantined, which led to a reduction in oil consumption. The price of a barrel fell (the second prerequisite for this is the rupture of the OPEC + trade deal), ”Tuzov explained.
However, as the number of people who have been vaccinated against the coronavirus increases, oil consumption will increase, leading to higher oil prices. At the same time, the ruble also expects a gradual strengthening, which will continue during the first six months of the coming year. In the short term, the dollar will cost about 71-73 rubles.
Earlier, the expert on the stock market “BCS World of Investments” Dmitry Babin spoke about several currencies that are currently more profitable than the dollar.