The analyst explained how the price of Urals oil above $100 supports the ruble

Analyst Spartak Sobolev, in a conversation with RT, explained the benefits of Urals oil prices above $100 for the ruble. According to him, this value supports the exchange rate of the Russian currency.

“Among the factors supporting the national currency are still the high rate of the Central Bank of Russia and the price of Urals oil above $100 per barrel,” he concluded.

This week the exchange rate of the American currency will most likely fluctuate in the range of 82–87 rubles.

According to the expert, in early October the foreign exchange market traditionally experiences a balance shift in favor of foreign currency. This dynamics is due to a seasonal decrease in the activity of domestic exporters, which reduces the supply of foreign exchange earnings in the domestic market.