The Ministry of Economics predicted the strengthening of the ruble by the end of the year

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The Ministry of Economic Development considers the current ruble exchange rate to be undervalued relative to fundamental factors. The department expects it to strengthen to 71-72 rubles per dollar by the end of 2021. This was announced on April 22 by a source in the department.

Thus, the ministry adjusted the forecast for the average annual ruble exchange rate for the current year to 73.3 rubles from 72.4 rubles according to the forecast for September due to the weakened ruble at the beginning of the year.

Also, the Ministry of Economic Development and Trade in 2022 predicts the strengthening of the ruble compared to 2021: the average annual dollar exchange rate will reach 71.8 rubles (73.1 rubles according to the September forecast), and in 2023 – 72.6 rubles (73.8 rubles). The source added that in 2024 this figure will reach 73.6 rubles.

On Wednesday, April 21, it was reported that the dollar fell 0.25% against the ruble and reached 76.6 rubles at the moment, the euro – by 0.46%, up to 91.9 rubles, against the background of statements by Russian President Vladimir Putin on the international agenda during the announcement of the message to the Federal Assembly.

On April 16, Russian Finance Minister Anton Siluanov said that positions in the financial market had returned to the level before the next anti-Russian sanctions announced by the United States the day before, aimed, in particular, at restrictions on the Russian national debt. The United States introduced new anti-Russian sanctions on April 15. Against this background, the ruble exchange rate in the course of foreign exchange trading on the Moscow Exchange practically did not react to the situation.

As of April 15, after the United States announced its intention to impose new sanctions against Russia, the weighted average rate of the American currency with a settlement date “tomorrow” was 76.9808 rubles. A similar euro rate rose by 1.62 rubles and amounted to 92.1764 rubles.

At the same time, on April 7, for the first time since November 2020, the dollar rate rose above 78 rubles. The euro, in turn, crossed the 92 ruble mark for the first time since February 2021.