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Ruble Gains as Dollar Slips Below 94 Ruble Mark

International Forex exchange saw the US dollar dipping below 94 rubles for the first time since early October 2024, while the euro sank below 98 rubles, a event unseen since September 2024.

Ruble Gains as Dollar Slips Below 94 Ruble Mark

**"15:37 Moscow time, and the greenback's at 94.14 rubles (-2.44%), as per Investing.com data. Dropping down to a min of 93.5 rubles, this ain't the American currency's finest hour! The euro's also struggling, hitting a low of 97.16 rubles during the day. As of 15:38 Moscow time, it's trading at 97.69 rubles (-2.27%).

The official exchange rate for the dollar on Feb 12? 95.8 rubles, and for the euro, it's 99.15 rubles, per CB website data.

Since mid-January, the ruble's been on a roll, gainin' 6% since the start of the year. BCS Express expert Mikhail Zeltzer attributes this to an obvious surplus of currency supply in the market, thanks to Western sanctions and the Central Bank's policy. According to Zeltzer, "The national currency's recovery only happens as imports increase and exports decrease."

He thinks that by the end of winter, the foreign currency pressure'll ease, and things'll stabilize. Meanwhile, "Alfa-Capital" predicts that the national currency's weakenin' ain't done yet, and the dollar to ruble exchange rate might crawl up to levels of 110-115 rubles by the end of the year, as reported by RBC.

Now, about those predictions for 2025... Alfa-Capital ain't offered 'em up yet, but other analysts ain't shy. Alexander Potavin from Finam sees the dollar reachin' around 98-100 rubles by year's end, and Dmitry Kulikov from ACRA group thinks it could be closer to 110 rubles if certain conditions persist. So while Alfa-Capital's quiet on the prediction front, the general consensus among analysts is that the ruble's headed for some serious weakenin' against the dollar by the end of 2025.

For more happenings, tune into our Telegram channel @expert_mag"

  • #Dollar
  • #ExchangeRate
  • #Ruble
  • #Euro
  1. Mikhail Zeltzer, an expert at BCS Express, attributesthe strengtheningof the ruble to an obvious surplus of currency supply in the market, which is due to Western sanctions and the Central Bank's policy.
  2. In contrast, the euro is also struggling, with its exchange rate dropping to a low of 97.16 rubles during the day, and currently trading at 97.69 rubles (-2.27%).
  3. Alexander Potavin from Finam predicts that the dollar will reach around 98-100 rubles by year's end in 2025, while Dmitry Kulikov from ACRA group thinks it could be closer to 110 rubles if certain conditions persist.
  4. Despite Alfa-Capital's predictions for 2025 being unclear, other analysts anticipate the ruble's weakening against the dollar, with the dollar to ruble exchange rate potentially reaching levels of 110-115 rubles by the end of the year.
International Forex market witnesses historic lows for the dollar and euro against the ruble: The dollar dips under 94 rubles for the first time since early October 2024, while the euro breaches below 98 rubles, a move not seen since September 2024.

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