Ministry of economic development has improved the forecast of the ruble for the year 2020

Moscow, February 3 – “News.Economy.” The trend towards the strengthening of the rouble, formed at the end of last year, will continue in the new year. In the updated macroeconomic forecast of Ministry of economic development the average rate of the Russian currency against the dollar increased to 63.9 rubles/$1.

Photo: TASS

Ministry of economic development has increased the average rate in 2020 to 63.9 rubles/$1 in September, the assessment at 65.7 RUB/$1.

the strengthening of the ruble in the fourth quarter (by 3.9% in nominal terms) and January 2020 (61,7 rubles/$1 on average per month compared to 62,9 rubles/$1 in December) occurred at the background of the continuing inflows of non-residents on the market, according to the forecast of Ministry of economic development. Considering the dynamics of the beginning of the year, the Department has strengthened the forecast of the ruble in an average year, while stressing that by the end of 2020, “the expected gradual weakening of the ruble”.

In the future, the ruble is waiting for some weakening, but it will be smooth, as follows from the forecast of economic development. Implementation of budgetary policy in accordance with the “fiscal rules” will limit the impact of trends in external markets on domestic economic parameters, considers the Ministry. In these conditions the dynamics of the ruble against foreign currencies in nominal value “will be determined primarily by the inflation differential between Russia and the countries – trading partners”, quoted by “Interfax”, the document of Ministry of economic development.

In the end, with levels of around 66 rubles/$1 in 2021 to 2024, the ruble will fall to 67-68 rubles/$1 in 2024 (with the expected weakening of the dollar on the forecast horizon), said the Ministry of economic development.

the Ministry has retained in the baseline scenario of the forecast to 66.1 rubles/$1 in 2021, with a gradual weakening of the Russian currency to 67.4 rubles/$1 in 2024 Text: News.Economy