Tuesday , July 27 2021

The exchange rate of the euro to the ruble at the end of November 2018 will grow



Sberbank analysts report that after long-term stability, the Russian ruble against the euro will begin to fall again at the end of November 2018. The price increase will not be significant, but in December the situation could deteriorate significantly. Financial experts expect news of new US sanctions, as well as projects to define the Russian economy. These two events can radically change the situation in the currency market. If such changes occur, they will be very unfavorable for the monetary unit of the Russian Federation.

Estimates of the euro at the end of November 2018 are associated with economic and political factors

Analysts report that they do not depend on their estimates of opinions expressed by the Ministry of Finance in the state budget for 2019-2023. However, they took it into account, agreeing that a significant ruble decline was not possible. They remember that the stability of the ruble until 2023 was placed in the state budget. According to analysts at Sberbank, at the end of November 2018, Russia will see a significant euro appreciation. During each day, there will be an increase in the value of foreign currencies by 0.05-0.10 rubles. They suggest less optimistic estimates for December 2018. Pessimism is associated with economic and political factors. The Russian economy is suffering from a decline in oil production, and political instability and routine meetings undermine the confidence of the future of Russian business. An important role is played here by Western sanctions, which undermine the prospect of entrepreneurs who have Russian citizenship.

Sberbank has proposed estimates for the euro in November 2018, painted during the day

Sberbank reports that November 18, 2018 can be considered the last day of the relative stability of the euro and ruble. Already on November 19, 2018, regular appreciation of the EU currency will begin. On November 29, 2018 the value could reach 76.5 rubles.

The only day when the Russian currency will be able to return a portion of the lost position is the last day of the month. However, a significant increase in this situation is not expected. December will begin, most likely, at a cost of 1 euro, which will be equal to 76.3 Russian rubles.

Together with the euro against the ruble, the US dollar, the Swiss franc and the British pound will also rise. A significant jump in prices for foreign currencies can be observed as early as December 2018. Such events are very likely to occur if the Russian government makes a new statement about the course of de-dollarization of the national economy. Any such political move weakens foreign investor confidence.


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