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The Russian currency is losing ground, the Euro exchange rate exceeded 83 ruble

The Russian currency is losing ground, the Euro exchange rate exceeded 83 ruble

the Russian national currency in the first hour of today’s trading on the Moscow stock exchange is weakening the US dollar and the Euro, the single European currency for the first time since may 4, rose above 83 rubles.

as of 10:42 GMT, the dollar calculations “tomorrow” increased by 15.5 kopecks to the previous closing to 71,6250 of the ruble. The Euro added nearly 27 cents and was at around 83,1375 of the ruble, according to data exchanges.

As analyst IK “VELES the Capital” Elena Kozhuhova, “in the morning we can expect the Russian stock indexes and the ruble in a moderate minus under the influence of negative sentiment on foreign markets”. “From the Central Bank of the Russian Federation at today’s meeting, basically waiting for lower interest rates from 4.5% to 4.25%. The regulator’s decision is unlikely to affect short-term downward trend of the ruble”, — stated in the review of the expert.

At the same time the chief analyst of PSB Bogdan Zvarich warns that “the pressure on the ruble will have a speaker of the currencies of developing countries, which are now weakened in the range of 0.4%”.

for his part, head of data analysis CEX.IO Broker Yuriy Mazur does not exclude that “against the background of deceleration in the energy market, the quotations of the ruble can run up to 75 marks for U.S. currency”.

In turn, Deputy head of IAC “Alpari” Natalia Milchakova predicts dollar in the range of 71-72 ruble and Euro — ruble 81-82.

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 previous day ruinedeh deal 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 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%.

Stories about how you tried to get help from the Russian state in terms of coronaries and what came of it, email it to COVID-19@rosbalt.ru

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