The ruble was predicted by weakening after growth

The ruble again noticeably strengthened the dollar, but after the New Year the Russian currency is likely to weaken, the Vedomosti writes .

What happened

On December 25, he continued the tradition of recent days: the ruble strengthened again. The course at 14.30 Moscow time approached 61.5 rubles per dollar - this is the level of summer of 2018. Then the dollar grew a little - to 61.7 rubles.

Read also foreign investors in 2020 put on the ruble and Russian shares

What you need to know about the ruble course before the New Year

Several factors contributed to strengthening the ruble at the end of December: on a successful external context - stable oil, weakening of the tension between China and the USA and Catholic Christmas - the internal in the form of the sale of foreign exchange earnings by exporters.

• In addition, from December 6, the Ministry of Finance reduced the purchase of currency on the budget rule by 2 billion rubles, to 9.3 billion rubles a day.
• A non -working day on December 25 in the West means that there are few foreign participants in the Russian market and any demand for rubles responds to the course.
• Since January 2019, the ruble has strengthened the dollar by 12%.

What's next

Bloomberg recently called the ruble a “unexpected protective asset” during the trade wars. Agency experts predict that the Russian currency will be the best among the currencies of developing countries in 2020. HSBC experts not only predict the ruble strengthening by 7% next year, but also see in it a “guiding star” for other currencies. We wrote in detail about the expectations of foreign investors here .

Now the ruble exchange rate is excessively high, Andrei Kadulin, the head of the analytical department of the St. Petersburg Bank, told Vedomosti, but he expects that he will remain at the level of 61.5–62 rubles per dollar before the start of full-fledged trading after the New Year holidays. Denis Zabolotnev, Head of the Department for Work with Institutional Capital Sova Capital, expects a slight correction on December 30 and 31.