Economy05.10.2020 - 10:27

Reasons for inevitable devaluation in Russia

Analysts informed about the fall in oil prices, as well as the threat that the Russian economy will face. It will surely impact on the wallets of citizens.

The first days of October were marked by a sharp drop in oil quotes. According to experts, reports of US President Donald Trump’s illness, among other things, impacted on it.

There are some other factors that will impact on the situation: the slow pace of recovery in energy demand and the volume of Libyan oil production, which has doubled.

According to Sergei Sovereign, an investment strategist at Arikapital Management Company, further the development of events will depend on the tightening of quarantine and a return to the self-isolation regime in the countries, including Russia.

"The ruble exchange rate in such conditions will steadily decline," MK quotes the expert.

 

Photo: from open sources

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