The ruble during trading stronger against the dollar and Euro

the Russian national currency in the first hour of today’s trading on the Moscow stock exchange becomes more expensive to the U.S. dollar and the Euro.

So, as of 10:50 Moscow time the dollar calculations “tomorrow” has decreased by 26 kopecks to the previous close to 69,60 of the ruble. The Euro has lost nearly 28 cents and was at around 78,0225 of the ruble, according to data exchanges.

As analyst IK “VELES the Capital” Elena Kozhuhova, “in the morning the Russian stock indexes and the rouble will receive support from improved sentiment on world markets, therefore we can expect their release in moderate plus”. “On Friday in Russia awaited the Central Bank, which with high probability will reduce the interest rate by 100 basis points to 4.5%, which in the current environment is potentially a positive for stocks and the ruble”, — stated in the review of the expert.

At the same time the chief analyst of PSB Bogdan Zvarich says that “the main reason to buy will be the situation on the energy market, where the nearest futures for oil of mark Brent have risen in the area of 41,9 USD per barrel, adding about 1%”.

for his part, head of data analysis CEX.IO Broker Yuriy Mazur emphasizes that “the Russian currency continues to strengthen against the U.S. dollar and still be below $ 70 per us dollar, which indicates the strength of the ruble”.

However, analysts warn the IAC “Alpari” Vladislav Antonov, “due to new outbreaks of coronavirus in China on the last day of the week it is not necessary to expect strengthening of the ruble.” “The ideal scenario for Friday — the sideways movement in the range 69,15-70,50 ruble”, — 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. 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 feary 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 may 2020 rose by 3.8% 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 4.7%, to Euro — on 3,8%. However, for the first 5 months of the current year the real effective exchange rate of the ruble fell by 7.8%, and the dollar — by 9.9%, and the Euro by 9.7%.

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