{"id":10741,"date":"2023-11-07T18:28:15","date_gmt":"2023-11-07T18:28:15","guid":{"rendered":"https:\/\/infundpros.com\/markets\/currencies\/ruble-expected-to-stabilize-by-year-end-says-sberbanks-gref\/"},"modified":"2023-11-07T18:28:16","modified_gmt":"2023-11-07T18:28:16","slug":"ruble-expected-to-stabilize-by-year-end-says-sberbanks-gref","status":"publish","type":"post","link":"https:\/\/infundpros.com\/?p=10741","title":{"rendered":"Ruble expected to stabilize by year-end, says Sberbank&#8217;s Gref"},"content":{"rendered":"<div>\n<p>Sberbank&#8217;s leader, Herman Gref, has projected a stable ruble exchange rate at 85-90 rubles\/$1 by the end of 2023. The forecast aligns with the sentiment expressed by other economic leaders, including a note on ruble steadiness due to implemented stability measures.<\/p>\n<p>Gref attributes the anticipated steadiness to a presidential decree that requires large exporters to sell their foreign exchange earnings in Russia. This measure is designed specifically for currency revenue stabilization. The decree&#8217;s implementation has resulted in an increase in the market supply of rubles, contributing to the predicted stability.<\/p>\n<p>In addition, Gref has criticized the prevalent use of offshore alternative OTC markets for most ruble-to-dollar conversions. He has suggested that such trading should be shifted back to Russia to further support the ruble&#8217;s stability.<\/p>\n<p>Tax payments were also highlighted by Gref as a significant factor in boosting demand and strengthening the ruble. The combination of these factors, according to Gref, will contribute towards achieving a minor strengthening of the ruble and maintaining its stability through the end of this year.<\/p>\n<p><em>This article was generated with the support of AI and reviewed by an editor. For more information see our T&amp;C.<\/em><\/p>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.investing.com\/news\/forex-news\/ruble-expected-to-stabilize-by-yearend-says-sberbanks-gref-93CH-3225123\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sberbank&#8217;s leader, Herman Gref, has projected a stable ruble exchange rate at 85-90 rubles\/$1 by the end of 2023. The forecast aligns&#8230;<\/p>\n","protected":false},"author":1,"featured_media":10742,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[29],"tags":[],"class_list":{"0":"post-10741","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-currencies"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Ruble expected to stabilize by year-end, says Sberbank&#039;s Gref | inFundPros<\/title>\n<meta name=\"description\" content=\"Sberbank&#039;s leader, Herman Gref, has projected a stable ruble exchange rate at 85-90 rubles\/$1 by the end of 2023. 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