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The Dollar Exchange Rate Will Rise By the End of the Third Quarter
July 8, 2017 00:16


 The dollar exchange rate will rise to 65 roubles by the end of the third quarter. This was written by Rambler News Service with a reference to the analytical review of Raiffeisenbank on Tuesday, July 4.

The experts think that the weakening of the rouble is expectable, explaining that it is caused by the reduction of the current account balance during the summer months down to zero or even to negative values due to the recovery of imports and payment of dividends.

In their opinion, the balance reduction leads to the fall of the currency surplus liquidity and the weakening of the Russian currency. In addition, they believe that the current rouble oil price is too underestimated. The fair value, according to the estimates of Raiffeisenbank, is 3200 roubles per barrel against the current three thousand roubles. A similar forecast was made by the Asset Manager of “Zerich Capital Management” Aleksandr Baulin on the same day.

According to him, there are no prerequisites for the strengthening of the Russian currency in the near future, and the dollar exchange rate will grow up to 62-65 roubles by autumn. On June 30 the Minister of Economic Development Maksim Oreshkin told that his agency might revise the forecast on the rouble’s exchange rate for the end of 2017 in August.


Author: Anna Dorozhkina


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