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Analysts at the Euler investment company predict a significant weakening of the Russian ruble in 2026: the dollar exchange rate may rise to 96 rubles by the end of the year. Among the influencing factors are a decrease in foreign exchange sales under the budget rule, falling oil prices and structural risks to export earnings.

The dollar exchange rate in the Russian market dropped to 78 rubles, reflecting the impact of tight monetary policy, a surplus in foreign exchange supply and a decrease in import demand. Experts estimate how stable the current strengthening of the ruble can be.

The dollar exchange rate dropped below 77 rubles for the first time since 2023, becoming a new local minimum for the US currency. Experts attribute the strengthening of the ruble to both geopolitical expectations, active sales of foreign exchange earnings and a decrease in demand from importers.