According to the analyst, since the beginning of March, the ruble has fallen in price quite a lot against the dollar, falling by 1.4%, but this week "strenuously tried to recoup, rising in price against the dollar by 1.1%."
According to her, the foreign exchange market is concerned about the size of Russia's budget deficit, as well as the March drop in oil prices below $ 80 per barrel.
"At the same time, the tax period, which in Russia takes place at the end of the month, provides support to the ruble, and the current week was no exception. Also, some softening of the rhetoric of the US Federal Reserve and a well-founded hope that the Fed in the second half of 2023 will stop raising interest rates also this week worked in favor of the Russian national currency, and, of course, the visit of Chinese President Xi Jinping to Moscow added a lot of optimism to the ruble, "Milchakova emphasized.
The interlocutor of RT believes that next week "it makes sense to observe the data on industrial production in Russia for February: the stronger the data, the greater the significance they will have on the ruble."
"Next week we expect the dollar exchange rate of 75-77 rubles," she concluded.
Earlier, BitRiver financial analyst Vladislav Antonov expressed the opinion that the yuan is an excellent substitute for the dollar and euro.