How long will the ruble weaken

Since the beginning of December, the ruble began to actively depreciate against major foreign currencies: it has already lost about 5% against the dollar, and 9% against the euro. According to the Moscow Exchange, on Thursday, December 15, the dollar traded in the range of 63.9-64.95 rubles, having updated the maximum since July, the euro – 68-69.4 rubles, having reached a maximum since May. Experts interviewed by Vedomosti attribute such dynamics to restrictions on the supply of Russian oil, the preparation of the ninth package of sanctions and increased budget spending at the end of the year. In the coming days, the wave of weakening of the Russian currency may stop, analysts say.

The ruble plummeted in late February amid a special military operation in Ukraine and the imposition of Western sanctions against Russia. The dollar and the euro reached their maximum on March 10 at the level of 121.5 and 132.4 rubles. respectively. To stabilize the situation, restrictive measures were introduced, which, in particular, included the mandatory sale of foreign exchange earnings by exporters, a commission for the purchase of foreign currency on the stock exchange, and restrictions on transfers to foreign accounts. As a result, the ruble began to steadily strengthen, reaching on June 29 a minimum against the dollar at the level of 50.01 rubles, against the euro – 53.09 rubles.