The Russian national currency has been hovering around 69-71 rubles to a dollar in January 2023. Analysts made forecasts and explained to the prominent Russian periodical Izvestia why the ruble is not strengthening despite the intervention of the Central Bank.
Managing partner of Wolfline Capital Nikita Dolgiy has shared his perspective with Izvestia:
“The recession in global markets will also contribute to a further drop in demand for raw materials, and as a result, the increase in oil and gas prices will be insignificant. This may affect the level of oil production in Russia, tapering it off by 1 million per day. The curtailed production and the reduced surplus of the balance of payments will poise the ruble between 70-73 rubles to a $ by the end of March.”
To read the full article, follow the link: https://iz.ru/1461323/roza-almakunova/stcenariev-plan-natcvaliutu-zhdet-oslablenie-do-72-rub-k-kontcu-marta?