Analyst Andrey Kochetkov has called the conditions for the strengthening of the ruble against the dollar in an interview with the Agency “Prime”.
According to Kochetkov, first and foremost, this will contribute to the care problems of the coronavirus in the background. He explained that the infection should be a medical issue, not an economic condition. It will happen in the near future, when will begin the final stage of vaccine development, he said.
in addition, the ruble continues a positive return, therefore, will remain and the demand for it. “As soon as the markets will calm down over the second wave COVID-19, the ruble may return to strengthen, and oil prices continue to recover its position,” — said the analyst. He added that the uncertainty in the Russian currency may persist for some time, but the situation may change rather quickly.
the dollar rose above 71 of the ruble on Tuesday, June 30. The Euro soared above 80 rubles for the first time since may 14. According to Reuters, the weakening of the ruble may be due to the repatriation of profits by non-residents at the end of the quarter, as well as the reverse conversion of the received by foreign holders of Russian shares dividends. Usually exporters reduce the offer of currency proceeds on the market after taxes, the Agency said, which also works against the Russian currency.