“I think that over the next week, strong fluctuations in both currencies are possible.

The dollar may show fluctuations against the ruble next week within the limits of 77-80 rubles, the euro - within the limits of 86-89 rubles," the expert said.

According to her, the change in the exchange rate will primarily be influenced by the geopolitical situation, as well as news about possible sanctions.

“The ruble will be supported by high oil prices... If there is a strong downward correction in oil prices, this will be a negative factor for the ruble,” the economist said.

She recalled the meeting of ministers of OPEC + member states scheduled for February 2. 

If during the meeting a decision is not made on a "more radical increase in oil production", the current situation in the oil market will continue, which will become a factor in support of the ruble, Milchakova said.

Earlier, Dmitry Babin, an expert on the stock market at BCS Mir Investments, said that the ruble could return to the range of 72-76 per dollar if the geopolitical situation improves.