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Analyst Golubovsky warns that the ruble will soon fall due to the lockdown in China

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Annabelle
Annabelle
I am Annabelle Sampson and I work for The News Dept as an author for their news department. My main focus is on economy news, but I also cover other topics such as business, finance, and current affairs. My writing has been featured in prominent publications such as The Wall Street Journal, Forbes Magazine, and the Financial Times. I have a passion for learning more about economic trends and understanding how they affect businesses of all sizes. To stay up to date with the latest developments in the field of economics, I make sure to keep track of reliable sources like Bloomberg News or Reuters. In addition to my writing work, I often provide consultation services related to economic matters for clients both large and small.
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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.

Source: Riafan

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