The ruble during the auction weakens the dollar and the Euro

the Russian national currency in the first hour of today’s trading on the Moscow exchange, losing ground to the U.S. dollar and the Euro.

So, as of 10:44 Moscow time the dollar exchange rate calculations “tomorrow” has grown almost by 8 kopecks to the previous close to 71,6075 of the ruble. The Euro gained 9.5 penny and was on the mark 81,5850 of the ruble, according to data exchanges.

As analyst IK “VELES the Capital” Elena Kozhuhova, “in the morning we can expect minor changes in Russian stock indexes and the ruble due to neutral sentiment abroad.” “The situation is stable and during the day can change depending on macroeconomic statistics, which on Friday is expected not so much”, says the review expert.

the main PSB analyst Bogdan Zvarych predicts that “pressure on the national currency will have the situation on the energy market, where today there is predominance of sales, which took away the nearest future for oil of mark Brent in the district of 43.2 per barrel”.

for his part, senior analyst “Alpari Eurasia” Vadim Iosub predicts that the “daily range for the dollar amount of 70.8-72.2 ruble, the European currency — of 80.7 82.3 per ruble.”

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 years in 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) a record low against the dollar and Euro since February of 2016, 81 and 88 million, respectively.

we Add that the real effective exchange rate of the ruble (inflation-adjusted) in June 2020 rose 2.9% against foreign currencies relative to the previous month. In this case the real rate of the ruble against the dollar rose during this period by 5.2%, to Euro — by 1.7%. However, for the first 6 months of the current year the real effective ruble exchange rate decreased by 5%.

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