MOSCOW, February 3 The strengthening of the ruble in January may give way to a weakening to 95 per dollar in the last month of winter, he said in an interview with the agency » Prime» financial analyst at BitRiver Vladislav Antonov.
«The Central Bank has measures to stabilize the exchange rate against the ruble, therefore, as soon as the dollar exchange rate goes beyond the border of 95 rubles, the measures will be tightened,” he assured.
He recalled that at the beginning of the month the dollar strengthened above the psychological mark of 90 rubles. This is due to the end of the tax period and the fall in oil prices, as well as the strengthening of the dollar after the recent Federal Reserve meeting. The ruble is benefited by the preservation of the mandatory sale of foreign currency earnings by exporters, interventions and the anticipation of the February meeting of the Bank of Russia.
If several factors come together in February — for example, cheaper oil, the end of the sale of foreign currency from the National Welfare Fund, an increase in government spending and the budget deficit, the ruble could weaken to 95 per dollar, Antonov predicts. A stronger strengthening is unlikely, since the authorities will support the national currency on the eve of the elections, he concluded.