The expert predicted the strengthening of the ruble in August
Fluctuations in foreign exchange rates in the second week of August will be in the range of 78-82 rubles per dollar, 89-94 rubles per euro and 10.8–11.4 rubles per yuan. This forecast was announced to Izvestia on August 5 by Spartak Sobolev, head of the Alfa-Forex Research and Investment Strategy Department.
On August 5, the Central Bank of the Russian Federation set the exchange rate of the American currency at 79.6 rubles, the European currency at 92.3 rubles, and the Chinese currency at 11.06 rubles. At the same time, according to the Moscow Exchange, the yuan is trading at 11.09 rubles.
According to Sobolev, the noticeable weakening of the ruble at the end of July probably attracted the attention of exporters, who sold their accumulated revenue at more favorable price levels. This allowed the national currency to recover most of its losses and stabilize at the start of the August session.
The expert also noted that the dollar in the global market temporarily suspended the cycle of medium-term decline against the background of the statement by the US Federal Reserve System (FRS) about keeping the interest rate level close to current values in the third quarter. At the same time, he admitted that in the fall, the American regulator may soften the tone in monetary policy, which will again create pressure on the dollar.
"The main factor supporting the ruble is the lack of large demand for foreign currency. As the Bank of Russia reduces the key rate, it will recover. Now the market is focusing on external factors within weekly fluctuation ranges: 78-82 rubles per dollar, 89-94 rubles per euro, 10.80–11.40 rubles per yuan," Sobolev concluded.
Sobolev told Izvestia on July 28 that in the last week of July, price fluctuations are expected in the range of 78-83.5 rubles per dollar, 91-95.5 rubles per euro and 10.9–11.7 rubles per yuan.
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