The Russian currency is losing ground, the Euro exceeded 82 of the ruble

the Russian national currency during today’s trading on the Moscow exchange continues to depreciate the U.S. dollar and the Euro, the single European currency for the first time since may 4, overcame in 82 of the ruble.

as of 12:10 Moscow time the dollar calculations “tomorrow” has increased by nearly 35 cents to 71,8775 of the ruble. The Euro by this time added 55 cents and got to the 82.04 ruble, according to data exchanges.

the Ruble weakening against the background of negative dynamics of financial markets. Investors fear new outbreaks of coronavirus and rising tensions between the U.S. and China, says RBC.

While cheaper oil, the price of Brent oil down 0.7% to $43,05 per barrel, said RIA “Novosti”.

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.”

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, the financial and oil markets suffered “black Monday”, and on 18 March, Ronny covered “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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