The fall in the dollar exchange rate in the Russian Federation below 93 rubles is a short-term effect caused by the “squeezing” of currency from oil workers, assures Igor Lipsits.
Soon the dollar exchange rate in Russia will again break the psychological mark of 100 rubles. The Central Bank’s desperate measure of raising the key rate will not help contain inflation.
Such a sad forecast for the Russian Federation was voiced in on air channel “Khodorkovsky Live” famous Russian economist Igor Lipsits.
According to him, the recent weakening of the dollar in Russia is caused by the release into the country of a colossal mass of currency, which the Kremlin took from the oil workers.
“In this situation (the fall in the dollar exchange rate – ed.) there is a very simple explanation… It was just that the oil workers were robbed very much… The Ministry of Finance just announced that they received 1 trillion 600 billion in oil and gas revenues. This is 27% more than in September. They collected severance tax from the oil workers and managed to not give them any refund on the fuel damper. They collected an insane amount of taxes from oil workers… The rate immediately rose by as much as 2%, it became unprofitable for oil workers to take out a loan, and they had no choice but to urgently sell the currency. They sold a huge amount of currency to pay this huge tax. A lot of currency was thrown out and caused a fall (of the dollar exchange rate – ed.) below 93 rubles“- said the expert.
He assured that this effect would not last long.
“This is a short-acting “miracle”. In November, oil and gas revenues are expected to be almost half as much. We can expect the dollar to return to higher values“, Lipsitz warned.
Earlier, experts called the Central Bank’s decision to increase the key rate to 15% “killing the economy.”
We also wrote that the head of the Russian Ministry of Finance advised Russians to “not pay attention” to the collapse of the ruble.
Author: Tatyana Shevchenko
2023-11-07 13:47:22
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