Russian industrialists want strong ruble

Russian industrialists want strong ruble

Most (66%) of the Russian industry sector believes that strengthening of the ruble will have a positive impact on their work, annual study of the international consulting company Deloitte shows.

According to vice-president of the Russian Union of Industrialists and Entrepreneurs Maria Glukhova, a sudden change in the ruble's exchange rate in any direction worries business much more than the level at which it is now.

Earlier, head of the Ministry of Industry and Trade Denis Manturov said that sectors involved in import substitution needed the dollar to be at the level of 62 rubles. In turn, Agriculture Minister Alexander Tkachev noted that the optimal level is 60-65 rubles.

In an interview with Vestnik Kavkaza, Konstantin Korishchenko, head of the department of stock markets and financial engineering of the Faculty of Finance and the Banking Business of RANEPA, noted that it is impossible to establish a balancing exchange rate, which would suit everyone.

"It is always a quantity that is associated with the cost of raw materials and is influenced by conditions in the market where goods are sold. So the task of finding an exchange rate that will suit everyone is hopeless," the expert said.

In addition, he shared his opinion on the new anti-Russian sanctions, which are being prepared by the EU and the US, as well as on how will they affect volatility of the ruble exchange rate and industry of the Russian Federation. "Most likely expectation of sanctions will have a negative impact on the ruble exchange rate. As for the industrial sector, I think that in today's conditions the influence of sanctions will be small, since current restrictions already hinder the business. These conditions can't get much worse," he noted.