The impact of a weak ruble on the budget and consumers in Russia. The main thing

The weakening of the ruble increases budget revenues, but accelerates inflation. In October, the market was affected by the growth of the Ministry of Finance's foreign exchange purchases and stock volatility. All the details are in the Izvestia article.

Economic effect of the exchange rate

The official exchange rate of the US dollar, set by the Central Bank on October 6, is 84.93 rubles, an increase of 1.45 rubles. The weakening of the national currency has a dual effect on the Russian economy. A weak ruble is an advantage for the state budget, as it allows it to receive more funds in ruble terms from export operations.

At the same time, this situation becomes a serious disadvantage for ordinary consumers. The depreciation of the ruble has a direct impact on the cost of living, leading to an increase in the cost of a wide range of goods and services.

Inflation risks

The main negative consequence of a weak ruble is the acceleration of inflation. This is due to the fact that imported products are purchased for foreign currency, and when the ruble exchange rate falls, the final price for the buyer inevitably increases.

Not only finished goods are under attack, but also machinery, as well as various components. An increase in the cost of imported parts leads to an increase in the cost of production, which eventually accelerates the overall price level in the country.

Pressure factors

Changes are being recorded in the financial market due to the actions of the Ministry of Finance. From October 7 to November 6, purchases on behalf of the Ministry of Finance will increase from 2.5 to 12.7 billion rubles per day. At the same time, the Central Bank will continue counter currency sales related to the operations of the National Welfare Fund. Taking into account currency sales of 0.6 billion rubles per day, net currency purchases will amount to 12.1 billion rubles per day.

This puts additional pressure on the exchange rate of the national currency, but remains a secondary factor. The main role is still played by the balance of exports and imports, writes the portal <url>.

At the same time, on October 6, the stock market is experiencing increased volatility. Securities quotations react to the weakening of the ruble, which affects the dynamics of the main indices. Market participants attribute the current changes to the expected consequences of budget operations and the general state of foreign exchange liquidity.