After the Central Bank of the Russian Federation canceled a 12% commission on buying dollars and euros in early April, the demand for the currency from the population increased, and this, in turn, contributed to the growth of quotations. At that time, experts believed that the dollar would fall into the range of ₽80-85 in a couple of weeks, and this forecast came true. Now the analysts of the 4BS|Economy, Business and Finance channel have decided to see what will happen next?
“Let's take a healthy look at the situation. First, we need to understand what terms we are interested in. If we are talking about the short term, then USD/RUB may continue to grow if prices can hold above ₽79.9.
And the key word here is "may". According to the Moscow Exchange's currency trading, the supply exceeds the demand for foreign currency by a multiple, and all because of the requirements for exporters to sell 80% of foreign exchange earnings.
Gazprombank is trying to convert dollars or euros into rubles, but people just don't want to buy them! In such conditions, it will be extremely difficult to move the price higher. But, on the contrary, to press lower and lower is quite. But this forecast is more relevant for the patient".