Ruble underperforms the dollar above $ 70
The ruble at the beginning of a new working week remains an outsider. The US dollar on Monday afternoon they struck the bar 70 and holding above RUB. To date, bids are about 70,27 rubles per dollar. Euros easily beat the level of 81.00 RUB and RUB 81,35 These thresholds are largely psychological in nature. The weaker the ruble, the more likely that the monetary authorities here will make verbal interventions, and will try to keep the national currency from the new failure. The chances of success, but they are not very large.
In this light, the meeting of the Central Bank on Friday, September 14, is of particular interest. Courses of the Bank of Russia for tomorrow, September 11, is increased in both cases and are 69,02 RUB (+77 cents) per U.S. dollar and worth 80.35 rubles (+99 cents) for eurocurrency.
It is worth Recalling why the ruble is rapidly losing ground and why it has updated the lows of two and a half years. Investors are more serious about the risk of tougher package of anti-Russian sanctions from both the EU and the US. It also confirms the massive sale of OFZ, it is highly profitable product, but with a high level of geopolitical risk.
Commodity market early in the week kept the “green” zone. A barrel of North sea Brent raw materials worth $77,29 (+0,6%), light Texas crude oil is trading at $68,09 and going up by half a percent. Some stabilization of the U.S. dollar allows commodity quotes to level off and stay in the black.
The US dollar will finish the day in the range of 70.00-70,55 rubles., the Euro finishes in the borders of 81.00 in comparison with 81.65 RUB Devaluation? Of course, Yes.