Finances

Russian economist says ruble may fall by end-January

12:30, 07 January 2021
Russian economist says ruble may fall by end-January Photo: Sergey Lantyukhov/NEWS.ru

The ruble exchange rate may fall if the US decides to impose sanctions on Russia, despite that the current situation in Washington is likely contributing to the weakening of the US dollar, Russian economist Nikita Maslennikov said in an interview with URA.ru.


If the US adopts new sanctions against Russia, the Russian currency may collapse to 80-85 rubles per US dollar by the end of January, he said.

At the same time, against the background of unrest in the US caused by the political crisis in the country, the dollar may partially lose its position. At this time, the US currency’s weakening to 70 rubles per dollar may be expected, the expert notes.

Economy expert Igor Nikolayev partly agrees that soon the ruble may strengthen against the dollar, but this phenomenon will be short-lived. He is confident that the dollar will quickly stabilize and win back losses after the new US president’s inauguration on January 20.

The US Congress gathered on January 6 to approve the presidential election results and declare Democrat Joe Biden as the new White House chief.  But supporters of current President Donald Trump prevented them from doing this. The protesters gathered outside the Capitol and broke into the Congress building where the meeting was taking place.

While the protesters were clashing with the police on the building steps, the congressmen were urgently evacuated. The law enforcers had to use tear gas and stun grenades.  

The police officers detained several people in connection with the riots.

NEWS.ru reported earlier that four people had been killed in the Washington riots.