The Russian national currency depreciates, the Euro exchange rate has exceeded 80 rubles

Weakening of the Russian national currency in the course of trading on Tuesday evening were strengthened and the Euro for the first time since may 14 exceeded 80 rubles.

So, as of 17:55 GMT, the dollar calculations “tomorrow” has added 1.2 ruble and reached 71,1950 of the ruble. The single European currency by this time jumped to 1.25 ruble to 79,9375 rubles (earlier it was reached 80,03 ruble), according to data from the Moscow exchange.

As noted by the chief analyst of PSB Bogdan Zvarich, “the pressure on the national currency has situation in the energy market, where sales are dominated by”.

for its part, the economist “BCS Premier” Anton Pokatovich States that “although market sentiment and remain in the area of optimism, however, investors’ concerns in relation to viral plane and the second wave of the pandemic continue to grow, which puts pressure on the appetite to purchase risk”. In addition, he said, “this week the rouble will remain without tax support, and the demand for (foreign) currency is increasing in terms of converting from dividends and profits earned by non-residents”.

In General, says analyst IK “VELES the Capital” Elena Kozhuhova, the mood on global markets marred by “risk of the spread of coronavirus, which, in particular, materialized in the United States.” “At the end of June in the States talking about the possibility of a resumption of a number of quarantine restrictions, which significantly limits the purchase,” says the review expert.

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 kato 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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