SKB-Bank: USD To Sell for RUB 67 Per Dollar

UrBC, Yekaterinburg, August 9, 2019. According to SKB-Bank's analysts, the national currency is expected to weaken up to RUB 67 per dollar and RUB 74.5 per euro, the bank's press service informed UrBC.

'What are the factors that are driving the ruble down this August? First of all, the trade war between the United States and China. Both parties launch their 'offensives' on a regular basis, sending ripples across all the global markets: oil and (both ferrous and non-ferrous) metal prices are going down. The price of everything that Russia sells on external market is going down. The war pressure makes the world's finance traders worry even more, so they could leave the dollar/euro market at any given moment, therefore increasing the market's ruble supply,' the bank's press service says.

Now the U.S. Dollar grew 4%, or RUB 2.5, more expensive since mid-July; the Euro grew 3.6%, or RUB 2.6, stronger. As of 3PM today, the stock exchange rates are RUB 65.22 per dollar and RUB 73.11 per euro.


Other materials on the topic::