the Central Bank of Russia raised from the June 5, the official rate of the dollar from 67.5 cents to 69,0151 of the ruble. While the single European currency gained 70 cents, and tomorrow it will 77,3245 ruble.
As noted by the chief analyst of PSB Bogdan Zvarich, “the decline in oil prices and the weakness of the currencies of developing countries will put pressure on the ruble.”
the Director of the Academy of management Finance and investment Arseniy Dadashov warns that “while commodity platforms hovers tense atmosphere (because of the uncertainty with the timing of the meeting of the countries participating in the new deal OPEC+ — ed), a further increase in Brent will be difficult”. Moreover, he said, “downside risks may increase, unless, of course, two “hero of the occasion” (Russia and Saudi Arabia — ed.) in the near future will not convince his colleagues of intending to meet the quota within the framework of further implementation of measures to limit production.”
we also Recall that the Russian national currency since the beginning of this year has significantly depreciated against the dollar and the Euro. Strong pressure on the rouble had a General panic in the financial markets due to the rapid spread of the pandemic coronavirus infection COVID-19 and concerns about its impact on the global economy, and a collapse in oil prices.
So, the strong devaluation of the Russian currency occurred on March 7 on the international Forex market, after the day before the deal collapsed OPEC+, — countries of the Alliance are unable to agree on cutting oil production, nor of the extension of the deal for a longer period (1 April 2020). Then, on March 9, 2020, the financial and oil markets suffered “black Monday”, and on 18 March, the market embraced a “black Wednesday” with yet another collapse of oil prices, the Russian national currency in the course of trading on the Moscow stock exchange has updated (at the time) the record of the dollar and the Euro since Febary 2016, 81 and 88 million, respectively.
we Add that the real effective exchange rate of the ruble (inflation-adjusted) in April 2020 rose 0.1 percent against foreign currencies relative to the previous month. In this case the real rate of the ruble against the dollar fell during this period by 1.6%, the Euro by 0.6%. However, for the first 4 months of the current year the real effective exchange rate of the ruble fell by 11%, and the dollar — by 14.3%, and the Euro by 12.9%.
Stories about how you tried to get help from the Russian state in terms of coronaries and what came of it, email it to COVID-19@rosbalt.ru
