Roscongress announced the risk of the dollar rising to 110 rubles. in 2024
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Experts from the Roscongress Foundation believe that the dollar exchange rate in the second quarter of 2024 could rise to 110 rubles. if the current monetary policy in Russia is maintained. This is stated in the fund’s report “Prospects for the Ruble: Currency Control or Devaluation?”
“If the option of gradual controlled weakening of the ruble is chosen, which can be justified within the framework of the current budget policy, the exchange rate will lose approximately 2 rubles. per month on average. This assumes an exchange rate of around 110 rubles. per dollar and below by the second quarter of 2024,” – drive “RIA News” excerpts from the foundation’s report.
According to the authors of the report, to change the situation, the Russian authorities and the Central Bank must change the requirements for foreign exchange control and adjust monetary policy. In particular, the report states that the possible implementation in the Russian Federation of 100% repatriation of foreign currency earnings could raise the ruble exchange rate “even above the budget-comfortable range of 80-90 rubles.” for a dollar.”
Previously from proposal The Russian Ministry of Finance came forward to introduce the repatriation of foreign currency earnings of exporters. According to the director of the department of financial policy of the department, Ivan Chebeskov, the department is currently actively discussing different options for the operation of this mechanism, as well as interest rates and currencies in which such a mechanism should be installed.
In July, Delovaya Rossiya approached the Russian government with an initiative similar to the Ministry of Finance’s initiative to repatriate assets. The organization proposed to renew requirements for the transfer of funds from foreign companies for exporters’ goods to accounts in authorized banks. In fact, it was proposed to again establish the return of revenue to Russia in foreign currency or rubles.
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