Tue Nov 26 09:00:00 UTC 2024: ## Ruble Could Plunge to 140 Per Dollar by Next Spring, Analyst Warns
**MOSCOW** – The Russian ruble could weaken significantly against the dollar in the coming months, potentially reaching 140 rubles per dollar by next spring, according to financial analyst and trader Artem Zvezdin. Zvezdin told NEWS.ru that this dramatic drop hinges on several factors, primarily a fall in oil prices to $50 per barrel. He suggests that a peak of 140 rubles per dollar is possible, with an average rate closer to 120 rubles.
Zvezdin points to two key geopolitical factors that could contribute to this scenario: a de-escalation of international tensions in Ukraine and the Middle East, leading to lower oil prices, and a potential return of Donald Trump to the US presidency. Trump’s previous pledges to reduce oil prices to $40 a barrel are cited as a contributing factor.
These predictions come after the Central Bank of Russia identified shifts in foreign trade – specifically, reduced exports and increased imports – as major contributors to the ruble’s weakening. While the Bank of Russia hasn’t issued a specific forecast mirroring Zvezdin’s prediction, their analysis supports the underlying concerns about the ruble’s vulnerability. The analyst’s forecast highlights the significant risks facing the Russian currency in the near future.
First Piper 