Alexander Shneiderman, Head of Sales and Customer Support at Alfa-Forex, noted that after the holidays, investors and traders enthusiastically returned to trading on the Moscow Exchange, "instilling optimism about the dollar, which may lose its positions."
"Factors that may affect the ruble in January include the mandatory sale of foreign exchange earnings by exporters, which causes optimism, data on the trade balance, fiscal policy, a potential increase in energy prices, as well as the stabilization of the geopolitical situation. Although the impact of high inflation, geopolitical tensions, sanctions and fluctuations in energy prices may put pressure on the ruble, the steady recovery in economic growth, the resumption of the Central Bank's operations in the foreign exchange market with the involvement of funds from the National Wealth Fund and the continued interest of importers in foreign currency are encouraging," he added.
According to his forecast, after the New Year holidays, the Russian currency is likely to continue strengthening.
"We predict that in the next two weeks the ruble will fluctuate in the range of 87.65-93 rubles per dollar," the RT interlocutor concluded.
In turn, as noted by Valery Tumin, Director of the Russian and CIS Markets at fam Properties, in the coming quarter, against the backdrop of general uncertainty in the world market, Western currencies "will be tested for strength."
"This means that by spring we will be able to see quotes in the following corridor: 85-87 rubles per dollar, 95-96 rubles per euro and about 12.5 rubles per yuan. However, closer to the summer, this trend will lose strength, and foreign currencies will go up," he said.
Earlier it was reported that the dollar exchange rate during trading on the Moscow Exchange fell below 90 rubles for the first time since December 29, 2023.