in 2024 the exchange rate will be 100–110 rubles/$ – Kommersant

Alfa Bank chief economist Natalia Orlova said that the ruble exchange rate is expected to fall again in the near future. According to her forecast, in December 2023 the rate will be about 90-95 rubles/$, and in 2024 the rate will be at around 100-110 rubles/$.

“The current instability of the ruble is caused by the fact that exporters had to sell more foreign currency: in October they sold $12.5 billion, although in the summer they sold $7 billion a month. Most likely, this procedure will be canceled in 2024, and the ruble will weaken. Already now, in order to cope with the sales norm, some exporters first have to buy additional currency, because already approximately 40% of exports are paid in rubles. A state that is not interested in encouraging a return to dollar payments,” she believes (Ms. Orlova’s forecast is posted in Telegram channel “Alpha Investments”).

According to her, too much strengthening of the ruble is unfavorable for the budget; it is based on the exchange rate of 90 rubles/$. “Against the backdrop of all today’s risks, the current strengthening of the ruble does not look long-term; it will not remain at its current height for long,” the expert emphasizes. Assistant to the President of the Russian Federation Maxim Oreshkin associates the current strengthening of the ruble with a reduction in temporary capital outflow and stabilization of the balance of payments. In an interview with MK he statedthat “one should not expect dramatic deviations from the current exchange rate of the national currency.”

According to the Central Bank of the Russian Federation, the dollar exchange rate as of November 23 was set at 88.1 rubles/$. At the same time, on November 15, the rate exceeded 91.2 rubles/$.

Read more about the situation on the foreign exchange market in the Kommersant FM article. “The potential of the ruble has been identified”.

Alexander Kislov