“The dollar — the collapse of the ruble is inevitable” – Stepan Demura
The new sanctions that will be imposed on 27 August, will seriously affect the Russian currency. The dollar in Russia could jump up to 70-75 rubles, they say.
Stepan Demura believes that the dollar will be in the range of 75-80 rubles, other analysts are more cautious. The second stage of US sanctions could derail the ruble to 100 -125 per U.S. dollar.
“The actions of the Central Bank and the ruble this stuff very, very indirectly. Don’t assume that once the Central Bank something will not do until the end of September, then everything will begin to strengthen. Please understand, CB is a very small player in global financial markets – he has no resources, he has no currency, there are no professionals.” noted demur, on this he said of movements of the CBR will have little impact on the fall of the ruble.
“The President of the United States, the state Department and the Ministry of Finance has some room for maneuver, depending on the behavior of the Kremlin.
If he’s not going to break away from reality and demonstrates common sense, it means that something is put off until later or not at all will use. But if everything remains as is, then punch in full.
Neither the government nor the Central Bank can do nothing. They do not have neither the resources nor the personnel to develop a consistent economic and financial policy.” — said the analyst.
He also advised to prepare for the worst: — “the Movie starts now. The situation will be like in 2008 – early 2009, during the global financial crisis. Only it will not pass quickly and will not end. And will only get worse.”
Other analysts are in the same pessimism. And in spite of that the ruble is still actively supported by the government, with high oil, all may result in failure.
“The ruble will be killed within a month”. — analyst Zhuravsky and predicts the course of autumn in the range of 80-90 per U.S. dollar.