Is it time to save the ruble

The ruble, following the results of trading on the Moscow Exchange, although it fell by 50 kopecks against the dollar, fixed at the level of 95 rubles/$. So far, analysts see no preconditions for the Russian currency to start pulling back and believe that it will continue moving towards the psychologically important 100 rubles/$. Some experts believe that the time has come to save the ruble, while others believe that the intervention of regulators can only increase panic in the market.

The ruble exchange rate against the dollar fixed at the level of 95 rubles/$ on Monday, August 7. In the summer, even the July tax period did not help the Russian currency, when exporters had to sell, according to experts, the proceeds in the amount of about 1.1 trillion in ruble equivalent. At the same time, oil prices are steadily growing, the discount of Russian Urals to Brent is shrinking, and there is comparative calm in geopolitics. The ruble is gradually approaching the psychologically important mark of 100 rubles/$, while the financial authorities are not yet publicly concerned. The Finance Ministry last week announced plans to start buying yuan for windfall oil and gas sales, which will put additional pressure on the exchange rate. Vedomosti discussed whether it is necessary to save the ruble and how this can be done.