The ruble during the auction wins the dollar, but inferior to EUR

the Russian national currency in the first hour of today’s trading on the Moscow exchange, slightly more expensive to the U.S. dollar, but weakening against the Euro.

So, as of 10:30 GMT the dollar calculations “tomorrow” has decreased by 6 kopecks to the previous close to 70,8025 of the ruble. The Euro rose by 2.5 kopecks and was on the mark 80,7750 of the ruble, according to data exchanges.

As analyst IK “VELES the Capital” Elena Kozhuhova, “the most interesting news in the environment can come from the oil market, which will evaluate data on reserves and statements of the monitoring Committee of OPEC+”.

for his part, head of data analysis CEX.IO Broker Yuriy Mazur warns that “uncertainty of investors in respect of the energy market and prospects of the world economy has on the positions of the Russian ruble”.

the main PSB analyst Bogdan Zvarych predicts that “in the medium term, the most probable is the rise of the dollar above 72.5 ruble in case of deterioration of the external environment on the active spread of coronavirus and rising tensions between the US and China”.

overall, the senior analyst “Alpari Eurasia” Vadim Iosub expects “daily range for USD 70.2 to 71.6 ruble, the European currency — 79,9-81.6 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 or on the extension 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) 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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