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Rosbank warned citizens about the continued weak ruble exchange rate

Rosbank analysts rule out the option in which the Russian currency will strengthen in the near future

The day before, the Russian currency was able to regain the losses incurred following the results of trading on Friday, March 29. On Monday, April 1, investor interest in Russian assets began to grow due to rising oil prices and the growing interest of market players in risk.

Together with the ruble, almost all the largest currencies of developing countries gained in price last Monday. Today the ruble is declining, but it suffers minimal losses.

The dollar and the euro at the time of publication of this review rose by 0.1% to 65.33 and 73.2 dollars, respectively. Most likely, today’s weakening of the ruble is in the nature of a correction and will in no way affect its fundamental positions.

According to Rosbank analysts’ forecasts, the situation in the foreign exchange market will remain stable for a long time. Due to the high demand for hydrocarbons, the ruble will be able to receive support from large players who are betting on the growth of raw materials and the weakening of the dollar.

However, the strengthening of the ruble against the dollar and euro is unlikely, experts say. The tax period in Russia is over, so exporters will sharply reduce the purchase of ruble assets, and the pressure on the national currency will increase due to the continued foreign exchange interventions of the Central Bank.

In this situation, Rosbank economists are betting on maintaining the dollar exchange rate at 65-66 rubles for at least the next few months.

Moris Akline
About author

Speculative operations in the foreign exchange and stock market. Work with futures and indices on CME. Work on FORTS and RTS. Development of portfolios and investment strategies for clients. Knowledge of technical (price charts of various types, indicators and oscillators, trends, channels, support / resistance levels) and fundamental analysis, take note of news. I work according to my trading strategy in compliance with the rules of capital management and risk management. Development of trust management strategies. Technique of order execution, placing and changing protective stop-losses, hedging.
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