The weakening of the ruble that has occurred will have a weak inflationary effect. This information is contained in the summary of the results of the September meeting of the Board of Directors of the Central Bank of the Russian Federation.
“Participants noted that inflation in the 3rd quarter of 2024 is higher than the Bank of Russia’s expectations,” the document says.
According to the Central Bank, the dynamics of the domestic currency exchange rate remains stable overall. As the regulator notes, the ruble has returned to the levels of May of this year after a significant strengthening in the summer months.
The document also shows that as a result, pricing on the currency market has temporarily become less effective against the backdrop of increased sanctions, and market segmentation has increased. The Central Bank emphasized that in the future, market participants can be expected to adapt to the new conditions, as well as the equalization of the ruble exchange rate in different marketforecast segments.
Before this, Alexander Shepelev, an expert on the stock market at BCS World of Investments, gave a forecast in an interview with Gazeta.Ru , in which the Moscow Exchange indicators indicate a slight strengthening of the Russian currency’s position against the dollar.