the Russian national currency in the first hour of today’s trading on the Moscow exchange restricts the U.S. dollar and the Euro.
So, as of 10:30 GMT the dollar calculations “tomorrow” has decreased almost by 47 kopecks to the previous close to 68,50 of the ruble. The Euro lost nearly 38 cents and was at around 78,0050 of the ruble, according to data exchanges.
As analyst IK “VELES the Capital” Elena Kozhuhova, “in the morning, Russian stocks and the ruble is likely to come in plus and try to win back some of yesterday’s fall.” “The appetite for risk on Friday is growing again, and the main event of the day will be data on the U.S. labor market in may. If the statistics disappoints, sentiment in the stock and oil platforms can again deteriorate. In the rest of the world, the mood on the last working day of the week is favorable for purchases,” says the review expert.
the expert on Finance CEX.IO Broker Alexander Anouk States that “the Russian ruble on the positive oil market continues to hold below 70 for the us dollar.” “In addition to the factor of “black gold” quotations of the Russian currency have a positive impact of unmet dire predictions of the decline of the world economy. Yes, many countries have difficulties, but yet to talk about a repeat of the great depression is not necessary. While maintaining high hydrocarbon prices, the ruble will continue to regain its position against the greenback and back into the range of 65-67 per dollar,” — said the expert.
agrees With him and IAC analyst “Alpari” Vladislav Antonov, which indicates that “the overall picture remains on the side of the ruble.” “With the further growth of oil prices and stock indices are expected to decline of the pair dollar/ruble to 68 rubles”, — the expert concludes.
we also Recall that the Russian national currency since the beginning of this year has significantly depreciated against the dollar and the Euro. Mosnoe 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) 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 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%.
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