Investor Babin describes high oil and gas prices as the only protection for the ruble
MOSCOW, August 11 – RIA Novosti. Relatively expensive oil and gas, like other commodities, remains almost the only protection for the ruble from high geopolitical and sanctions risks. said Dmitry Babin, an expert on the BCS World of Investments exchange, to the Prime agency.
According to him, the dollar cannot significantly leave the level of 60 rubles for the second week and makes multi-directional movements in this range. “Perhaps such dynamics reflect the emergence of an equilibrium in the Russian foreign exchange market. On the one hand, the foreign exchange supply is decreasing due to the decrease in export revenues due to low commodity prices. On the other hand, imports are increasing.
At the same time, the planned easing of restrictions on the movement of capital by the Bank of Russia and the financial authorities simplified the process of issuing foreign currency abroad. It concluded that, against the backdrop of the already existing anti-Russian sanctions and rising geopolitical risks, the Ruble, having exhausted its support for oil prices, could begin to weaken steadily.