According to the analyst, the exchange rate of the ruble in early August will partly win back the decision made on July 27 on interest rates by the US Federal Reserve.
“The Fed raised interest rates by 0.75 percentage points, and although the decision was expected, it may still help strengthen the dollar and fall in the currencies of other countries for some time,” Milchakova said.
She also noted that the reduction of the key rate by the Bank of Russia to 8% also became a "medium-term factor in the weakening of the ruble."
“People and businesses have more incentives to spend money, increasing the money supply in circulation, and save less,” she explained.
Milchakova also noted that in the first half of August, a return to the budget rule, announced earlier by the Russian Ministry of Finance, can be expected.
“This will also become an additional factor for the weakening of the ruble - the sale of rubles will cause concern among currency traders.
In early August, we expect 58-62 rubles per dollar and 59-63 rubles per euro, ”the RT interlocutor concluded.
Earlier it was reported that the euro exchange rate on the Moscow Exchange rose above 63 rubles for the first time since July 8.