Investors have confidence in the ruble in anticipation of the OPEC decision

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Russian ruble on Friday afternoon quickly becomes more expensive in a basket of currencies. The US dollar to date is 63,10 RUB and decreases 1%, the Euro slide by 0.7% and 73,43 RUB Official rate of the CBRF at the weekend and on Monday, June 25, the amount of 63.23 RUB for the American currency (reduced to 55 cents) and is 73.72 rubles for Euro (raised at 4 cents).
It seems that in ruble pairs again work those bidders who respond only to “good” today, when oil rebounded from a four-day low, the ruble is reaching for her. On the eve, when on the commodities sector experienced a serious collapse, the ruble stood like glued. Such was the case in mid-spring, and later courses have stabilized themselves when the sector of oil left an emotional component.
Let’s not forget that the foreign exchange market continues to intervene, the Ministry of Finance, which is daily becoming currency by 19 billion rubles. It is supposed to contain the ruble fluctuations and trying to strengthen, but locally doesn’t work.
The raw materials market, as has been said, today “green” – oil shakes from side to side on the expectations of the most important decisions to increase the quotas for daily production. The Committee OPEC+ have already recommended to increase the daily pumping 1 million barrels, but enthusiasts in Russia and Saudi Arabia are within the cartel will face Venezuela, Iraq and Iran, who are against the expansion of mining. The decision must be taken unanimously, the principal discussion will take place tomorrow. Commodity quotes, it turns out, will play the news only on Monday.
The U.S. dollar closed the session on Friday within 62,95-63,50 RUB, the Euro will come out for a weekend in the borders 73,35-74,10 RUB.
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Anna Bodrova,
Senior analyst,
Alpari