The ruble exchange rate in 2019 will decline markedly, said Deputy Chairman and Chief Economist at Vnesheconombank Andrei Klepach, according to Interfax.
“I don’t think that a wave is now possible (pressure on the Russian ruble rate – IF). The course will remain at the current level until the end of the year, it may even be strengthened. But next year, even outside the context of sanctions, the ruble exchange rate will decline, ”said the expert during the international business conference KEF-2018 in Minsk.
At the same time, according to Klepach, this year the Russian currency will be relatively stable and may even strengthen. He noted that sanctions had a big “inhibiting effect” on the development of the Russian economy. At the moment, Russia is “cut off from the global borrowing market,” and in the future we can expect even greater capital outflows, “including because of the expectations of a new portfolio of sanctions,” said Klepach.
He suggested that by the end of 2018, the outflow of capital from Russia would be twice as high as that predicted by the authorities and would be about $ 60 billion.
It became known earlier that the US State Department is discussing with the Congress the possibility of introducing new sanctions against Russia because of the poisoning in the UK of ex-Colonel Sergei GRIPAL. The US administration has not yet disclosed the details of these restrictions and the timing of their introduction.