27.05.2022, 15:00
Investor Marchinsky Explained Why the Dollar will Not Strengthen to 80-90 Rubles in June
Source: OREANDA-NEWS
OREANDA-NEWS In the coming weeks, the dollar will not rise to the level of late February - early March due to a strong imbalance in exports and imports of the Russian economy. Yan Marchinsky, co-founder of the Y2 Finance investment fund, told Gazeta.Ru about this.
“In the near future, we are unlikely to see the fall of the ruble to the level of 80-90 per dollar. In Russia, there is still a strong imbalance of exports and imports, our economy does not need to buy a lot of foreign currency for this period. It is very difficult for the dollar to grow in such conditions, especially in a situation where non-residents are actually not allowed to exchange trading, and Russian gas is sold for rubles,” Marchinsky believes.
In his opinion, in the near future we will see the peak moment of the rebound of the ruble against the dollar. But then, in any case, stabilization will occur. In late May - early June, the dollar is likely to rise to the level of 72-74 rubles. It is this course that is the most optimal for the Russian budget.
“I think that the ruble will not rise above this bar in the near future. Now, in general, oil is very expensive, a barrel of Urals is traded at $85, Brent - at $115. Therefore, our budget should be filled well now,” Marchinsky concluded.
As of 13:50 Moscow time, the dollar was trading on the Moscow Exchange at the level of 64.95 rubles. The maximum since the beginning of the day reached 67.44 rubles.
The dollar began to rise in price after the Central Bank lowered the key rate to 11% on May 26. After that, economist Nikolai Podlevsky admitted that the US currency could overcome the bar of 80 rubles.
“In the near future, we are unlikely to see the fall of the ruble to the level of 80-90 per dollar. In Russia, there is still a strong imbalance of exports and imports, our economy does not need to buy a lot of foreign currency for this period. It is very difficult for the dollar to grow in such conditions, especially in a situation where non-residents are actually not allowed to exchange trading, and Russian gas is sold for rubles,” Marchinsky believes.
In his opinion, in the near future we will see the peak moment of the rebound of the ruble against the dollar. But then, in any case, stabilization will occur. In late May - early June, the dollar is likely to rise to the level of 72-74 rubles. It is this course that is the most optimal for the Russian budget.
“I think that the ruble will not rise above this bar in the near future. Now, in general, oil is very expensive, a barrel of Urals is traded at $85, Brent - at $115. Therefore, our budget should be filled well now,” Marchinsky concluded.
As of 13:50 Moscow time, the dollar was trading on the Moscow Exchange at the level of 64.95 rubles. The maximum since the beginning of the day reached 67.44 rubles.
The dollar began to rise in price after the Central Bank lowered the key rate to 11% on May 26. After that, economist Nikolai Podlevsky admitted that the US currency could overcome the bar of 80 rubles.
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