Friday , April 23 2021

The euro exchange rate for rubles at the end of November 2018 will grow



Sberbank analysts report that after the long-term stability, the Russian ruble against the euro will begin to fall again in late November 2018. The price increase will be insignificant, but in December the situation may deteriorate significantly. Financial experts expect news about new US sanctions, as well as a project to de-dollar the Russian economy. Both of these events can radically change the situation in the foreign exchange market. If such changes arise, they will be extremely unfavorable to the Russian Federation's monetary unit.

The prerequisite for the euro at the end of November 2018 is associated with the economy and the political factors

Analysts report that they do not rely on the forecast of the Ministry of Finance in the state budget for 2019-2023. But they took it into account, and agreed that a significant fall in the ruble is unlikely. They recalled that the stability of the ruble was up to 2023 in the state budget. According to analysts in Sberbank, at the end of November 2018, the Russians will see a significant euro appreciation. During each day there will be an increase in the value of foreign currency by 0.05-0.10 rubles. They proposed a less optimistic forecast for December 2018. Pessimism is associated with economic and political factors. The Russian economy is suffering from the decline in oil production, and political instability and regular meetings undermine confidence in Russia's future. An essential role is played here by Western sanctions, which undermines the prospect of entrepreneurs who have Russian citizenship.

Sberbank has proposed a forecast for the euro in November 2018, painted by day

Sberbank reported that November 18, 2018 can be regarded as the last day of relative stability of the euro and the ruble. As of November 19, 2018, the regular estimate of the EU currency begins. On November 29, 2018, its value can reach 76.5 rubles.

The only day when the Russian currency will be able to return some of the lost positions is the last day of the month. However, a significant improvement in the situation is not expected. December is likely to begin with the cost of 1 euro, which corresponds to 76.3 Russian rubles.

Together with the euro against the ruble, US dollars, Swiss francs and British pounds will also rise. A significant rise in prices for foreign currency can be observed already in December 2018. Such an event change is especially likely if the Russian government makes a new statement about the national economy's maturity price. Any such political step undermines the confidence of foreign investors.


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