The expert called the exact dollar exchange rate by the end of 2022
In what currency to invest the ruble
As you know, until now, many Russians keep part of their savings in foreign currency — in euros and dollars. And at the same time, the Bank of Russia extended the restrictions on the withdrawal of cash foreign currency from accounts and deposits for another six months — until March 9, 2023. Many analysts believe that Russians should not now change their currency to rubles unless absolutely necessary.
Why? Oleg Syrovatkin, a leading analyst at the Otkritie Investments global research department, said that the situation is developing according to such a scenario that the dollar will rise in price by the end of December and will cost 69 rubles.
This is happening against the backdrop of a reduction in the inflow of foreign currency to the Moscow Exchange and an increase in demand for it due to the gradual recovery of imports.
“Additional pressure on the ruble may also come from the launch of an updated fiscal rule, which, according to our estimates, may take place in the fourth quarter,”
Oleg Syrovatkin said in a comment to Prime.
In early August, the Central Bank announced that it maintains the current limit of 10 thousand US dollars or the same amount in euros for withdrawing foreign currency cash from a foreign currency account or deposit. Until March 9, 2023, restrictions on the purchase of foreign currency remain in force: banks can sell to citizens only euros and US dollars received by their cash desks after April 9, 2022.