The inauguration of US President-elect Donald Trump, scheduled for January 20 next year, will have a significant impact on the exchange rate of the American currency.
This forecast was made by Russian economist Alexander Razuvaev, reports Bankiros.ru.
What will happen to the dollar after January 20
Over the past two weeks, the Russian currency exchange rate against the dollar and euro has fallen by more than 10%.
The value of the American currency at its peak reached 113 rubles, and the European currency – 119 rubles.
According to Razuvaev, the main reasons for the weakening of the ruble were the strengthening of the dollar against major currencies after the US elections and the introduction of US sanctions against more than 100 individuals and legal entities in the Russian Federation.
New sanctions make it difficult for Russian exporters to obtain foreign currency, resulting in a shortage.
The demand for foreign currency is growing, so it is becoming more expensive, the economist explained.
In his opinion, Trump's inauguration will lead to the strengthening of the Russian currency. The fact is that many expect Trump to lift some of the sanctions against Russia.
After January 20, there may be a significant strengthening of the ruble: the dollar exchange rate will fall to below 100 rubles, Bankiros.ru quotes Razuvaev’s forecast.
For reference
The United States dollar is the monetary unit of the United States and one of the world's major reserve currencies.
