Policy launches another attack on ruble

Policy launches another attack on ruble

The possible new sanctions against Russia by the U.S. and UK, after the Netherlands claimed that the Dutch military intelligence and security service had allegedly prevented an attack by Russian hackers against the OPCW, the Russian national currency experienced a new decline against the dollar and the euro after a two-week correction due to the explosive growth of oil prices.

This morning the dollar exchange rate increased by 0.325 rubles and was worth 66.19 rubles, the euro rose 0.46 rubles and was worth 75.9 rubles at the Moscow Exchange. Now, the dollar exchange rate reached 66.87 rubles and the euro - 76.9 rubles.

The advisor on macroeconomics to the CEO of the 'Opening-Broker' brokerage house, economist Sergey Hestanov, speaking with Vestnik Kavkaza earlier, noted that a single true methodology allowing to objectively assess the exchange rate does not exist. "Therefore, indeed, the ruble is strongly underestimated. But it is important to understand that the reason for such underestimation is the so-called sanctions risks. And some investors actively sell rubles, which leads to a significantly different price. Therefore, the ruble is significantly underestimated in theory, but in practice this underestimation is counterbalanced by sanctions and political risks," the expert explained.

"Any factors raising concerns among investors, lead to the fact that they agree to buy this currency only at a serious discount, which forms an underestimation," the advisor on macroeconomics to the CEO of the 'Opening-Broker' brokerage house noted.

"Russia is an exporter, and in this case a strong ruble is undesirable for the Russian economy, that is, a weak ruble helps the economy grow," Sergei Hestanov said.

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