The ruble will strengthen for two reasons. The first is the large volume of currency supply. The second is low demand. Relevant information is provided Candidate of Economic Sciences Vladimir Grigoriev in an interview with Lenta.ru. The expert also named the extreme limit for the strengthening of the ruble.

Thus, the increase in the national currency exchange rate is due to the fact that exporters are trying to cover all obligations under the decree on the sale of proceeds on the foreign exchange market by the end of 2023. The expert expressed the opinion that the volume of currency supply is currently higher than the demand for it.

Grigoriev noted that if additional factors related to economic or political factors operate on the market, the interval for the dollar in January will decrease to 87-90 rubles.

In addition, a stronger strengthening is possible, the expert believes, but the likelihood of this is extremely low.

Previously in SberCIB assumed, how much the dollar will be worth by the beginning of 2024. In January-March next year, the ruble may strengthen against the dollar. The strengthening may be affected by the decree on the sale of foreign currency earnings and the start of foreign currency sales from the Central Bank. Please note that the sale of foreign currency earnings will become mandatory. It will be carried out within the framework of the budget rule.