Demand for dollars has pushed the rumors about the devaluation
Slowed down a while ago, the demand to buy dollars again began to increase. “In the last two months, we are seeing high demand for foreign currency from the population, due to expectations of devaluation of the ruble approaching the traditional period of weakening and volatility of the Russian currency”, – reported in the Sberbank Investment Research the economic information Agency “Prime”.
As experts noted, the population eagerly buys dollars with the depreciation of the USD/RUB below 63, while exporters prefer to sell AUD/USD at levels of 63.30 and above. In General, flows in the foreign exchange market is now balanced, which prevents the sharp fluctuations of the ruble. Today the ruble dynamics behind oil prices and their correlation weakens. However, as analysts note, much depends on recent data from the energy information Administration of the United States. If they show the growth of oil in storage, the price of oil may again decline, and USD/RUB to close to the mark 63,90.
Previously, some experts have suggested that by the end of 2016, the ruble may weaken to the dollar, which, in turn, will rise by up to 65-69 rubles. This can happen immediately because of the four aggregate factors: a new fall in oil prices, possible December rate hike by the Federal reserve, the US presidential election and what will suit the next period of payment of the Russian external debt.
