On Monday, April 18, the Russian currency is moderately cheaper on the Moscow Exchange.

During the opening of trading, the dollar rose by 0.58% - up to 80.46 rubles, and the euro - by 0.63, up to 85.89 rubles.

In the near future, the ruble may remain under some pressure due to the decision of the Central Bank to ease the previously introduced currency restrictions.

This was stated in an interview with RT by an analyst at Freedom Finance Investment Company Vladimir Chernov.

So, from Monday, the Central Bank again allowed the Russians to buy cash dollars and euros in banks.

Prior to this, from April 11, the Bank of Russia canceled the 12% commission for the purchase of foreign currency on the stock exchange through brokers.

The regulator also eased restrictions on the withdrawal of foreign currency from bank accounts.

Citizens who had currency accounts or deposits opened before March 9, 2022 can receive both dollars and euros in banknotes.

At the same time, until September 9, you can withdraw currency in the equivalent of no more than $10,000, and the rest of the funds - in rubles.

“Demand for currency from the population will now grow, as many managed to withdraw money from bank deposits at the end of February and still kept them under their pillows.

Buying currency on the stock exchange was very unprofitable due to protective commissions, trading in securities was temporarily suspended, and people were afraid to invest money anywhere amid geopolitical and economic uncertainty,” said Vladimir Chernov.

According to the analyst, the Russians will actively buy cash currency over the next few weeks, after which demand will stabilize.

In addition to the possibility of saving money, the interest of citizens in cash dollars and euros may be associated with the approaching holiday season.

This opinion was shared with RT by the head of the information and analytical content department of BCS World of Investments Vasily Karpunin.

“During the holidays, many people will need foreign currency.

However, for example, it is now impossible to use non-cash dollars and euros from your Visa and Mastercard cards for spending abroad.

There is a MIR system, but it does not work in all countries.

At the same time, exchanging rubles for currency in another state can often be a problem.

Therefore, the decision to issue cash in banks looks reasonable, ”Karpunin believes.

However, the credit institutions themselves will be able to sell to the public only the currency that has entered bank cash desks since April 9.

As Vladimir Chernov explained, this decision was made to protect the financial system from new risks.

“The currency received by the cashiers before April 9 will remain with the banks as a safety cushion.

At the moment, part of Russia's gold and foreign exchange reserves are frozen due to sanctions, so it is necessary that the banking sector maintain the necessary supply of cash currency," Chernov said.

Note that the Russians themselves today can still exchange currency for rubles without restrictions.

  • Gettyimages.ru

  • © NSA Digital Archive

The Central Bank began to gradually ease restrictions against the backdrop of a sharp strengthening of the national currency over the past month.

Recall that back in the first half of March, the dollar and euro rates on the Moscow Exchange for the first time rose above 121 rubles and 132 rubles, respectively.

This is how the market reacted to the sanctions imposed by the West against Russia because of the military special operation in Ukraine.

To stabilize the situation in March, the Central Bank and the government took a whole range of measures.

Thus, the authorities obliged exporters to sell 80% of their foreign exchange earnings and canceled VAT for citizens when buying gold.

Along with this, the Central Bank temporarily raised the key rate to 20% per annum, limited the withdrawal of capital abroad, closed access for foreigners to exchange trading, and introduced a temporary procedure for handling cash in the country.

As a result, the national currency began to noticeably rise in price, and already in early April, the dollar exchange rate for the first time since November 2021 fell to 71 rubles.

At the same time, the euro exchange rate decreased to almost 77 rubles - for the first time since June 2020.

“Theoretically, the dollar could drop to 70 rubles.

However, with such a strong appreciation of the national currency, the Russian budget receives less revenue, and the revenue of exporting companies is reduced.

The costs associated with domestic and foreign inflation are growing, and businesses now need money, including to adapt to sanctions.

Therefore, the Central Bank began to ease restrictions and the dollar exchange rate stabilized near 80 rubles, ”Finam FG analyst Alexander Potavin explained to RT.

Meanwhile, the interviewed experts do not expect the same rush demand for the currency, as in late February - early March.

As a result, the dollar and euro rates against the ruble will continue to remain close to the current values, analysts say.

“For the ruble, the geopolitical background is now more important.

It is unlikely that the easing of the Central Bank will lead to a sharp weakening of the national currency.

According to our forecasts, in the near future the dollar will be in the corridor of 75-80 rubles, and the euro will trade at the level of 84-85 rubles, ”Ivan Manaenko, director of the analytical department of Veles Capital investment company, suggested in a conversation with RT.