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Post: Sovcombank analyst predicted the fate of the ruble in April

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Sovcombank Analyst Vasiliev: Ruble will trade between 74-79 against the dollar in April

MOSCOW, March 29 – RIA Novosti. Sovcombank analyst Mikhail Vasiliev said that in April, a stable exchange rate of the ruble against the dollar is expected in the range of 74-79 units. speech with the Prime Minister’s agency.

“April is historically one of the most favorable months of the year for the ruble. In the last 16 years, the ruble has strengthened 11 times against the dollar in April, by an average of 1.1 percent,” Vasilyev said.

He added that the foreign exchange inflow originating from exports will remain high and a surplus is expected in the balance of payments. In addition, the expert noted that there is a possibility of an increase in the sale of the yuan. Therefore, the dependence of the ruble on oil price fluctuations may decrease, thereby strengthening the stability of the Russian currency.

However, the source said that the geopolitical situation still poses a threat to the ruble. Oil and gas revenues are also expected to decline due to sanctions and volatility in energy prices.

Electronic scoreboard of the exchange office - RIA Novosti, 1920, 28.03.2023

The official dollar rate on Wednesday was 76.59 rubles.

Source: Ria

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