Foto: Sputnik / Виталий Тимкив
According to Bloomberg, since the beginning of April, the Russian currency has strengthened by about 12%, reaching the level of 72.6 rubles per dollar. Bloomberg notes that for the second year in a row, the ruble has demonstrated dynamics opposite to the forecasts of analysts, who expected it to weaken.
The agency’s experts attribute the strengthening of the Russian currency to the peculiarities of the current structure of the Russian economy, formed under the influence of sanctions and tight monetary policy. According to analysts, the imbalance in the financial market and high key rate create conditions for further growth of the ruble exchange rate.
Iskander Lutsko, senior portfolio manager at Istar Capital, told Bloomberg that the current situation is favorable for the strengthening of the Russian currency.
“If the Russian economy eventually emerges from martial law, the ruble will also return to more normal levels. The conditions are now ideal for further strengthening,” he noted.
