How should fall the ruble?

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The Ministry of industry and trade told about how to fall the ruble. The OPEC Secretary General will go to the USA to negotiate with lancelike. In the Ministry of industry has some concern about the excessive strengthening of the ruble. In an interview with “Vedomosti” said Minister of industry and trade Denis Manturov. Too strong ruble puts a spoke in the wheels of import substitution. Downside risks to oil prices makes the ruble vulnerable and investors can not understand this.
OPEC Secretary General Mohammed Barkindo in the near future plans to visit the United States of America. This will be the second working visit of the Secretary General of the cartel with a view to agreeing on the limitation of shale oil. Previously, such an attempt has already been made, but no concrete decisions were taken.
Most likely, the next trip will be relatively fruitless. Another issue is that now investors are very careful and sensitive to mood swings in the news stream. Almost mid-January black gold cheaper, which, of course, puts pressure on the quotes of the Russian ruble, which in early February for the first time, first year rose above 58 rubles.
This morning at the auction of the Moscow stock exchange for one unit of U.S. currency give 56 rubles 65 kopecks, the Euro is trading around 69 rubles 85 kopecks. The MICEX index rose to 2270 points, the quotes of Brent crude oil traded just below $ 65 per barrel. Bitcoins according to CoinMarketCap again fell to around $ 11,000.
The situation on the Russian currency market looks fairly stable. I must say that the decline in oil prices certainly are a factor of pressure on the Russian ruble. But at the same time relatively high interest of investors in Russian government debt and the tax period which is being held in Russia, provide support to the ruble. Now the dollar is near its minimum value over the past few years. And the slide rate in the range from 55,50 – 56 rubles per dollar opens good opportunities for shopping in the medium term.
In particular, the Ministry of industry and trade, which we mentioned earlier, believe that comfortable dollar could be heading 60 to 62 of the ruble. It is highly unlikely that in the near future we will see this strengthening of the American currency, but another speech of our Ministers concerning excessive strengthening of the ruble is going to do the trick. Most likely after the completion of the tax period, the dollar will return to growth. However, this growth is likely to be limited to 58 rubles per dollar, at least until the presidential election.
Gleb Zadoya,
The head of the analytical Department of the company,