US may bring ruble down in January

Baku. 24 November. REPORT.AZ/ Russian rubles may fall sharply at the end of this year or at the beginning of 2018.

Report informs citing the Gazeta.ru, the reason for this is the disclosure of new sanctions that the United States will impose against Russia.

If the United States prohibits the purchase of state bonds of Russia, then mass sales in state bonds may begin. As a result, the sharp increase in the US-dollar rate will be inevitably recorded. Analysts predict that the situation in the Russian currency market will be stable until the end of this year, but soft devaluation of the ruble predicted.

Experts believe, by late November, US dollar is expected to drop due to tax payments in Russia. So by the end of this month 600 billion rubles or $ 10 billion should be transferred to the state budget. It is likely that the dollar rate will continue to rise since December.

According to Tom Levinson, chief currency and rates strategistat Sberbank CIB, the US dollar rate is currently supported by the rise in oil prices: "If there is a negative news from the Vienna summit on November 30, then US dollar may start to rise”.

Notably, at present, the volume of Russian government bonds in the portfolio of non-residents is about 40 bln with the current exchange rate. In other words, if the sanctions are imposed on the Russian government bonds, the demand for the U.S. dollar may increase sharply in the currency market.