Western analysts predicted the strengthening of the ruble against the dollar

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The exchange rate of the Russian ruble in relation to the US dollar may decline by about 6% and reach 70 rubles. This was reported by Bloomberg with reference to the opinion of Western experts.

James Barrino, an analyst at New York-based investment firm Schroder Investment, believes that fears of a deterioration in relations between Russia and Belarus and an aggravation of sanctions rhetoric from the US and the EU are exaggerated.

Damien Buche, an expert at London-based investment company Finisterre Capital, admitted that he is trying to pinpoint the time of the optimal purchase of the Russian ruble, but noted that the Russian currency was cheap at the end of July, and now it has become even cheaper.

In addition, other experts also supported the view that investors underestimate the real value of the ruble.

On August 27, it was reported that in the future for September, one should expect a further decline in the ruble’s position against the leading currencies: it will trade in the range of 76–78 against the dollar, and in the range of 90–91 against the euro.

At the opening of trading on the Moscow Exchange on August 26, the dollar exchange rate with settlements on the day of the transaction was 75.4 rubles. Euro – 89.4. The ruble closed the day at zero – practically at the same levels – 75.6 and 89.3.

Over the last decade of August, the value of the Russian currency has been steadily declining. On the 20th, trading in the dollar closed at 73.8 and the euro at 87.5. Since that moment, the ruble has lost several percent: 3% paired with the American currency, 2% – with the European one.

Analysts at Raiffeisenbank said on August 25 that the stock of foreign currency liquidity in Russian banks was completely depleted in July.

Last week, the head of the analytical department of AMarkets Artem Deev said that in the near future the most stable currencies will remain the dollar, euro, Swiss franc and Japanese yen.

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