Inflation in February has pushed the growth of the dollar against the ruble
Another 60 banks to lose their licenses this year. Inflation caught up with us. Germany plans to abandon Russian gas.
The rating Agency “Expert RA” has come to the conclusion that 60 banks this year to lose the license. The Agency predicted that every tenth Bank from the top 50 has a chance to lose the license. Redistribution in the Russian banking market continues. At the moment we confident step move towards full nationalization of the entire banking sector and to the creation of the monopoly of large state-owned banks.What will offer us after all this Elvira Nabiulina is not yet entirely clear.
Meanwhile, Rosstat reported that growth of prices in February was 2.2% in annual terms. For the first time in recent history the figure caught up with the us inflation data. However, the Rosstat figures for quite some time are not statistical, and political color. The Russians, according to polls, the Central Bank estimated inflation at 9.9%. It is likely that even this figure is especially low.
On this background the dollar exchange rate on the Moscow stock exchange rose yesterday to 57 rubles, the Euro rose to the level of 70 rubles 65 kopecks. The MICEX index on the eve held in the area of 2320 points, and oil quotations of mark Brent fell below $ 65 per barrel. Bitcoins according to the website CoinMarketCap is at the level of 9200 dollars.
Meanwhile it became known that Angela Merkel signed a document, according to which Germany in the next year quite radically revise its procurement of fossil fuels. Already, renewable energy sources account for 33% of energy consumption in the country. In the next 12 years, this level is planned to increase to two. Suffer, of course, the Russian coal company and the Russian gas giant. For Gazprom at the moment, Germany is the key export market of gas.
The Russian financial market remains quite unprincipled. The dollar this week will be quite stable, in the same way as the Euro. This is due to the elections which will take place in the coming weekend. The second quarter for the Russian currency may be quite simple. Have large payments on external debts, there are risks associated with the conduct of new sanctions by the US and the risk remains of a decline in oil prices. Therefore, we believe that the second quarter trade dollar/ruble to move within the range of 57 – 58 rubles per dollar.
The head of the analytical Department of the company,