The interlocutor of the publication noted that the ruble exchange rate is influenced not only by the reinforcement of the currency by reserves and their structure, but also by the balance of demand for it from exporters, importers, banks and the population.

“... If the entire incoming currency were immediately exchanged for the ruble, this would lead to its strengthening.

But the weakness of the ruble against the dollar at the same time creates a cost advantage for Russian exporters, so one should not expect a significant strengthening of the ruble, ”the expert says.

Asset manager of Otkritie Management Company Dmitry Kosmodemyansky said earlier that the ruble was greatly undervalued against the dollar.