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The events of recent weeks in the Russian currency market already resemble, without any exaggeration, what happened in the early spring of 2022, when after the start of
Everyone understands: the dollar of 90 rubles, which we recently came to, means that cars will rise in price, so that it will not seem a little. And this applies not only to new foreign cars, but also to the products of domestic car assembly plants. After all, car kits to screw on wheels on Russian soil are also bought abroad, for foreign currency. In addition, lots acquired many months ago at much more humane rates will inevitably run out within a few months at most.
And then the market persists with cars already imported at a dollar rate of “90+”. Car dealers are cautiously predicting a 15-20% increase in car prices by the end of the year. But more sober estimates speak of a growth of 30%, and much earlier than the end of 2023. After all, few people believe that the fall of the ruble will stop at current values. But why is this happening? Especially since what is happening seems to suit the representatives of the Central Bank.
— There is no need to talk about any additional risks to financial stability. The country receives less export earnings, the balance on the current account is shrinking. A smaller balance should correspond to a cheaper ruble, – Ksenia Yudaeva, First Deputy Chairman of the Central Bank, calmly comments on what is happening.
Recall that in the spring of 2022, this same balance didn’t look very large either. But then the Central Bank did not exactly sit on the priest, but took all sorts of measures so that the ruble categorically did not correspond to the balance. And the regulator has done a great job.
Exactly a year ago, the dollar was worth 52 rubles. That is, since then the Russian currency has fallen in price by more than 70%. And despite that, the Central Bank sees “no risks”! At least let the ruble fall by the same amount, so what? It is very convenient to simply say, “less foreign exchange income is coming into the country.” But this is not a statement, but a statement of fact. It is much more interesting to know: why is this happening?
World oil and gas prices are about the same as a year ago. We have a discount (which has not yet been proven!), but we continue to export them abroad. At the same time, Russia is again exporting crazy amounts of agricultural products and mineral fertilizers. Only the proceeds of all this are now disappearing somewhere. Although the Central Bank somehow managed last year to force exporters to return it to the Russian Federation, this year it suddenly forgot how to do it. At the same time, he has forgotten how to interfere with the withdrawal of the currency from the country, which will come at least to us.
And the plunging exchange rate of the ruble also ceased to frighten bankers. Like, such is life, and we wash our hands. What the hell is going on? Maybe we are just not aware of some “brilliant” plan of the Russian monetary authorities? If they pursue the goal of making new cars and in general everything that is at least partially imported inaccessible to most Russians, then they are very good at it.
But in this case it would be nice to openly announce to what level the Central Bank intends to “drown” the ruble. So that the public can at least roughly imagine how deep we will all have to fall for the sake of the financial interests of the oligarchic groups that profit from the export of Russian goods.
Everyone understands: the dollar of 90 rubles, which we recently came to, means that cars will rise in price, so that it will not seem a little. And this applies not only to new foreign cars, but also to the products of domestic car assembly plants. After all, car kits to screw on wheels on Russian soil are also bought abroad, for foreign currency. In addition, lots acquired many months ago at much more humane rates will inevitably run out within a few months at most.
And then the market persists with cars already imported at a dollar rate of “90+”. Car dealers are cautiously predicting a 15-20% increase in car prices by the end of the year. But more sober estimates speak of a growth of 30%, and much earlier than the end of 2023. After all, few people believe that the fall of the ruble will stop at current values. But why is this happening? Especially since what is happening seems to suit the representatives of the Central Bank.
— There is no need to talk about any additional risks to financial stability. The country receives less export earnings, the balance on the current account is shrinking. A smaller balance should correspond to a cheaper ruble, – Ksenia Yudaeva, First Deputy Chairman of the Central Bank, calmly comments on what is happening.
Recall that in the spring of 2022, this same balance didn’t look very large either. But then the Central Bank did not exactly sit on the priest, but took all sorts of measures so that the ruble categorically did not correspond to the balance. And the regulator did a great job.
Exactly a year ago, the dollar was worth 52 rubles. That is, since then the Russian currency has fallen in price by more than 70%. And despite that, the Central Bank sees “no risks”! At least let the ruble fall by the same amount, so what? It is very convenient to simply say, “less foreign exchange income is coming into the country.” But this is not a statement, but a statement of fact. It is much more interesting to know: why is this happening?
World oil and gas prices are about the same as a year ago. We have a discount (which has not yet been proven!), but we continue to export them abroad. At the same time, Russia is again exporting insane amounts of agricultural products and mineral fertilizers. Only the proceeds of all this are now disappearing somewhere. Although the Central Bank somehow managed last year to force exporters to return it to the Russian Federation, this year it suddenly forgot how to do it. At the same time, he forgot how to interfere with the withdrawal from the country of the currency that, at least, still comes to us.
And the plunging exchange rate of the ruble also ceased to frighten bankers. Like, such is life, and we wash our hands. What the hell is going on? Maybe we are just not aware of some “brilliant” plan of the Russian monetary authorities? If they pursue the goal of making new cars and in general everything that is at least partially imported inaccessible to most Russians, then they are very good at it.
But in this case it would be nice to openly announce to what level the Central Bank intends to “drown” the ruble. So that the public can at least roughly imagine how deep we will all have to fall for the sake of the financial interests of the oligarchic groups that profit from the export of Russian goods.
Source: Avto Vzglyad
Donald Salinas is an experienced automobile journalist and writer for Div Bracket. He brings his readers the latest news and developments from the world of automobiles, offering a unique and knowledgeable perspective on the latest trends and innovations in the automotive industry.
