The ruble could fall to 70 per dollar due to the lockdown in China. Analyst Dmitry Golubovsky believes that the ceiling price for Russian oil imposed by the European Union will not have a significant impact on the local currency.
The ruble exchange rate could suffer greatly against the backdrop of a new wave of coronavirus in China. An analyst at Golden Mint Company told Svobodnaya Pressa that “it has been actively being hyped in the media” and that it is for “good reason”.
The expert believes that “if Brent goes to 60, if the Urals go to 45-50 dollars per barrel, we will have problems and the dollar / ruble rate will rise to 70.”
The weakening of the ruble can be seen “in a month and a half”. Golubovsky added that the experience of recent years has shown that the rate of 70-75 rubles per dollar corresponds to the oil price of 45-50 dollars per barrel.
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