In 2016 the dollar could set new record

In 2016 the dollar will continue to grow in relation to other world currencies, except the Canadian dollar, the British pound sterling and the Norwegian krone, experts of the agency Bloomberg predict.

By their estimations, the biggest  decrease, up to 5.5-8% will happen to the rate of the New Zealand and Australian dollars and the Swiss franc. At the same time, the Danish and the Swedish krona will drop by about 5%, the Japanese yen by about 3.5%, and the euro by almost 3%.

The experts explain the strengthening of the dollar in December was due to the decision of the US Federal Reserve to raise interest rates, which had remained unchanged for nine years. However, they predict that in the case of continued growth of the US economy during this year the rate could even quadruple.

"No other country would be able to respond in this way. Therefore, the dollar is likely to rise against most currencies" the chief currency strategist at New York's the Brown Brothers Harriman & Co, Mark Chandler, predicts.

Analysts remind that the dollar has already experienced two long periods of uninterrupted growth. The first one lasted from 1979 to 1984, to strengthen after the US president became Ronald Reagan cut taxes, while the second took place over five years, following economic growth during the presidency of Bill Clinton.

"This is the third big rally of the dollar. Under Obama, I think it propels a change of the monetary policy," Chandler said.

According to the experts, it started in 2013, when the FRS began to curtail the emergency economic stimulus measures introduced during the recession of 2007-2009.

They also recall that the previous two rallies lasted at least four years, so do not expect a quick end of the current one. "Dollar trends usually take years and years. This trend should be treated with respect," the head of the foreign exchange strategists of the Bank of Montreal, Greg Anderson said.

As for the Russian national currency,  falling to the level of 73.63 rubles per dollar in December 2015, the experts of Bloomberg predict that in 2016 its rate may fall below the values which it had in December 2014.

However, the most analysts agree that the expected fall will not be strong enough to lead to fatal consequences for the Russian economy. According to an analyst  of Prosvyazbank, Sergei Narkevich, it is able to withstand depreciation to the level of not less than 90 rubles to the dollar, according to RBC.