news unrolled

Post: The expert talked about the impact of Nord Stream on the ruble


Expert Yemelyanov said that the shutdown of Nord Stream put pressure on the ruble

MOSCOW, September 6 – RIA Novosti. Stopping gas flow through the Nord Stream pipeline has become the main factor putting pressure on the Russian currency, informs Agency “Prime”, with reference to the stockbroker “BCS World of Investments” Valery Yemelyanov.

“In its best years, (North Stream. – Ed.) accounted for one-third of Gazprom’s total exports. And this is the second most important source of foreign currency income for the country,” he said.

Yemelyanov added that the demand for foreign exchange from importing companies has increased, which can be seen from the dynamics of imports of goods to Russia and the high transaction volumes in the Moscow Stock Exchange.

“The imbalance between supply and demand should cause the prices of the base currencies to rise, that is, the ruble to fall,” Yemelyanov summarized.

In addition, the weakening of the ruble is associated with the structure of the Russian budget, the Ministry of Finance cannot reduce its obligations and expenditure on main items of expenditure. A comfortable exchange rate for the government is over 70 rubles per dollar. According to Prime’s interlocutor, the foreign exchange market may reach this level before the end of this year.

Source: Ria

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Popular Posts

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.