2024-03-16 23:46:00
Next week, two key events will influence the dynamics of the ruble: the results of the Russian presidential elections and the meeting of the Central Bank of the Russian Federation dedicated to the issue of interest rates. This was stated by BitRiver financial analyst Vladislav Antonov.
“The market will be guided by the results of the Russian presidential elections. The event has already been taken into account by the market, political stability provides additional support to the ruble. In addition to the elections, the focus of market participants will be the meeting of the Central Bank of Russia, which will be held on March 22. The rate is expected to remain at 16%,” the Prime agency quotes Antonov’s opinion.
The analyst also emphasized that the market will closely monitor Brent oil prices, since their rise to $87.5 per barrel might contribute to further strengthening of the ruble. If geopolitical risks and the decline of the dollar do not change, then we can consider the level of 88.5 dollars per barrel.
Antonov noted that the Central Bank’s decision will probably not have a significant impact on the foreign exchange market. Therefore, in the near future, the dollar will fluctuate around 90-93 rubles, the euro – 9.1-101.8 rubles, and the yuan – 12.5-12.9 rubles.
In 2024, large-scale expenditures from the federal budget may have a certain impact on exchange rate dynamics, reports RT. According to Antonov, foreign policy sanctions continue to play an important role for the ruble.
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