Russian Ruble Exchange Rate May Exceed 85 Rubles per Dollar, 100 Rubles per Euro, and 12 Rubles per Yuan

The Russian ruble exchange rate may exceed 85 rubles per US dollar, 100 rubles per euro, and 12 rubles per yuan after the Central Bank of Russia's upcoming meeting on the key rate, according to expert Alexander Shepelev. These levels were already tested or close to the current values in the over-the-law market on September 10. The expert notes that after a significant drawdown of the ruble, its technical rebound is possible. In the near future, the ruble exchange rate can be stabilized at current levels, especially if the geopolitical situation improves.

Key Takeaways:

The Russian ruble may exceed 85 rubles per US dollar, 100 rubles per euro, and 12 rubles per yuan after the Central Bank of Russia's upcoming meeting on the key rate.
The expert, Alexander Shepelev, notes that the dollar traded in the range of 82.6-87.6 rubles and the euro traded in the range of 96.9-99.7 rubles on September 10.
A technical rebound of the ruble is possible after its significant drawdown.
The US Federal Reserve System meeting on September 17 is expected to reduce interest rates by 25 basic points.
The expert predicts that the Central Bank of Russia will reduce the key rate from 18% to 16% on September 12.
The long-term prospects and influence of the Central Bank of Russia suggest further weakening of the ruble due to revived imported flows and lending, which increases the demand for foreign currency.

Statistics:

The dollar traded in the range of 82.6-87.6 rubles on September 10.
The euro traded in the range of 96.9-99.7 rubles on September 10.
The anticipated interest rate reduction by the US Federal Reserve System is 25 basic points on September 17.
The predicted reduction of the key rate by the Central Bank of Russia is 2 percentage points, from 18% to 16%, on September 12.

Sources:

Expert Alexander Shepelev, BCS World Investment Stock Market
Central Bank of Russia
US Federal Reserve System
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