Dmitry Alexandrov, Deputy General Director, Head of the Analytical Research Department of the Univer Capital Investment Company, named the time to buy dollars. He told the Prime agency that the moment for purchasing the American currency may come in the first half of February and mid-spring.
According to him, the benchmarks for a gradual purchase are the levels of 73.0, 70.9, as well as 68.5 rubles per dollar.
The analyst noted that since the beginning of the year, the dollar has shown active strengthening against most currencies amid a surge of fears about a potential early rate hike by the Fed.
Against the background of the growth of the dollar exchange rate, there was also “an increase in yields on US Treasury bonds,” on 10-year securities, it rose during the week from 0.92 percent to 1.14 percent, the specialist emphasized. “In such a situation, the ruble could not avoid weakening. However, the decision of Saudi Arabia to limit its own production sent oil quotations sharply upwards, which supported the Russian currency,” Aleksandrov said.
According to him, there are three main risks for the ruble: the recovery of production by Saudi Arabia amid weak demand, deterioration in global demand for raw materials amid the coronavirus pandemic and “sanctions pressure after the formation of a new administration in the United States.
Earlier in January, it was reported that the coronavirus pandemic had disproportionately affected countries with high per capita incomes, so the gap between rich and poor narrowed.