MUFG Bank: Russian rouble will weaken in 2023, as well as the U.S. dollar

This year, the Russian rouble has become one of the few currencies that managed to outperform the U.S. dollar. It showed sharp and significant growth from March to June. However, according to the forecast of economists at the Japanese MUFG Bank, the rouble’s strengthening will stop in the upcoming year, and it will weaken again.

This forecast is based on such factors as Russia’s reduced income from energy exports, the impact of sanctions, and a further weakening of capital controls.

The bank’s specialists also pay some attention to the U.S. dollar, which even after its recent downward correction remains higher than other major currencies. Nevertheless, next year it might weaken, as well as the Russian rouble.