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dollar falls due to low demand for foreign goods and services

Economist Igor Lavrovsky in an interview with Pravda.Ru commented dollar fall up to 53 rubles. As the expert stressed, the strengthening of the domestic currency does not indicate positive changes in the Russian economy.

“Such indicators are associated with low demand for the dollar and the euro. Obviously, they are enough for all current needs, there are not many bids for the purchase. Accordingly, the exchange rate is declining. This is normal,” the specialist said.

According to him, the fall of the dollar is a consequence of changes in the external economic environment. At the same time, this result did not arise due to the actions of the Russian authorities, the interlocutor of the publication noted.

“The West has figured out how to fence itself off from us. Therefore, the course cannot but change. Demand for Western services and goods is falling,” the economist said.

He also explained the statement of the head of the Ministry of Finance of the Russian Federation Anton Siluanovwhich warned of the negative consequences of a depreciation of the foreign currency.

“Firstly, when the ruble exchange rate rises, the attractiveness of imports increases. We do not need such an effect at this stage, since it objectively weakens the position of domestic producers in the domestic market. When the exchange rate decreases, it becomes more profitable to export, because the internal costs for our exporters are calculated in rubles. It’s not just about energy resources,” Lavrovsky concluded.

Earlier on official website of the Moscow Exchange reported that the dollar fell below 53 rubles for the first time since June 2015.

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