Analyst Zvarich predicted that the dollar will rise to 65 rubles by the end of 2022.
MOSCOW, November 23 – RIA Novosti. Due to the increasing demand for foreign currency and the deterioration of investors’ expectations regarding the economic situation, the dollar strengthened and may continue to grow. About said Chief Analyst of the agency “Prime” Finance supermarket Banki.ru Bogdan Zvarich.
According to the expert, with the introduction of quarantine measures in China, investors turned to US Treasury bonds, which contributed to the liquidity flow to US currency and dollar assets. He also noted that the dollar index’s rise to around 107.5 points led to Fed representatives’ statements to increase the rate of bidders for “short” positions and profit-taking rates.
Zvarich emphasized that with the announcement of weak macroeconomic data on Europe and the USA, the US currency may continue to strengthen, which may lead to a deterioration in investor expectations again.
The expert added that the weakness in the energy market as well as the growth in the foreign exchange will consolidate the dollar around 60-61 rubles and contribute to the increase of the figure to 65 rubles by the end of 2022.
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