In recent days, the ruble has declined against the major currencies in the Russian market, but experts expect the Russian currency to compensate for some of its losses in the coming period.
By 12:20 Moscow time, the dollar exchange rate rose by 80 kopecks (rule = 100 kopecks) to 81.99 rubles, while the euro’s exchange rate rose by two kopecks to 89.46 rubles.
Last week, the Russian currency recorded 83 rubles against the dollar and exceeded the level of 90 rubles against the European currency, the euro.
Experts believe that the exchange rate of the dollar at the present time should range between 70 and 80 rubles, based on the economic data for the current period, so experts expect the Russian currency to strengthen its positions in the coming period.
They also pointed out that the rise in oil prices in global markets will support the Russian ruble, as it will increase the flow of foreign currencies into the country, but experts pointed out that a factor must not be forgotten that Russia announced cuts in its crude oil production.
Among the factors that are expected to support the Russian currency in the coming days, the Russian Central Bank announced that it sold foreign currencies in the local market at a value equivalent to 5.5 billion rubles.
In the Russian stock market, the Moscow Stock Exchange index of shares denominated in the MICEX ruble rose, by 12:17 Moscow time, by 1.37%, to 2542.13 points.
While the RTS dollar-denominated stock index rose by 0.33% to 977,312 points, according to trading.
This article was originally published by RT.