By the end of the year the ruble may weaken The ruble strengthened in October against the background of rising export prices and the upcoming payment of taxes, as stated in Gazprombank's review. In September, foreign exchange sales of exporters increased by 4.9 billion dollars compared to August, to 23.7 billion dollars. However, most of this increase was absorbed by increased acquisitions of non-financial companies. In addition, the ruble was supported by a reduction in net purchases of foreign exchange by the central bank and the Ministry of Finance. Payment of taxes may increase budget revenues to 0.8-1 trillion ₽ from 0.5 trillion ₽ in September, increasing exporters' need for rubles. Export prices are also favorable. However, many commodities became more expensive in the spring, and now growth is mainly concentrated in the oil and gas sector. At the same time, purchases of the currency under the fiscal rule this month are up $2.3 billion compared to September, partially offsetting the increase in its supply by exporters. The strengthening of the ruble may also be limited by the seasonal recovery in importer demand. Gazprombank allows a temporary strengthening of the dollar to ₽81–83 until the end of October. In general, there is room for strengthening to levels around ₽80. By the end of the year, the rate may reach ₽86–89.

By the end of the year the ruble may weaken The ruble strengthened in October against the background of rising export prices and the upcoming payment of taxes, as stated in Gazprombank's review. In September, foreign exchange sales of exporters increased by 4.9 billion dollars compared to August, to 23.7 billion dollars. However, most of this increase was absorbed by increased acquisitions of non-financial companies. In addition, the ruble was supported by a reduction in net purchases of foreign exchange by the central bank and the Ministry of Finance. Payment of taxes may increase budget revenues to 0.8-1 trillion ₽ from 0.5 trillion ₽ in September, increasing exporters' need for rubles. Export prices are also favorable. However, many commodities became more expensive in the spring, and now growth is mainly concentrated in the oil and gas sector. At the same time, purchases of the currency under the fiscal rule this month are up $2.3 billion compared to September, partially offsetting the increase in its supply by exporters. The strengthening of the ruble may also be limited by the seasonal recovery in importer demand. Gazprombank allows a temporary strengthening of the dollar to ₽81–83 until the end of October. In general, there is room for strengthening to levels around ₽80. By the end of the year, the rate may reach ₽86–89.