Marcel Salikhov, President of the Institute for Energy and Finance, commented to the Lenta.ru Internet portal on the possible fall of the Russian currency to 80 rubles per dollar.
Nevertheless, the economist noted that now there is no limit to which the dollar can rise against the ruble, since the Central Bank does not have any formal restrictions.
“The main reason for what is happening is, of course, the geopolitical factor. Now non-residents are actively selling Russian assets and converting the received rubles into dollars. That is, foreigners simply leave our market, which puts serious pressure on the exchange rate. The second factor is that the purchases of the Central Bank in the interests of the Ministry of Finance increased. Now daily foreign currency is bought for 37 billion rubles. Perhaps, in the current conditions, the Bank of Russia will reduce purchases so as not to completely destabilize the market,” Salikhov believes.
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