The decision of the Ministry of Finance and the Central Bank to abandon the purchases of foreign currency has added to market optimism

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Today, the exchange trades the Euro and the dollar rebounded and adjusted down. The dollar at the moment depreciates against the ruble by 0.87% to RUB 67,592 While the Euro loses value against the ruble even more, of 0.95%, Euro at the exchange give 78,306 RUB Us sanctions against Russia came into force that might have caused the drop in the ruble against the dollar and Euro at market opening.
However, during the day the prevailing sentiment in the growth of the Russian currency. Meanwhile, the Central Bank of the Russian Federation announced the official exchange rates for Friday, August 24: the dollar 68,5259 RUB, and the Euro RUB 79,2502
The optimism in the market has brought the decision of the Ministry of Finance and the Central Bank to resume purchases of foreign currency on the stock exchange until September. Yesterday the situation on the currency market, close to panic, apparently, was caused by concerns that the Treasury would buy dollars, despite the fall of the ruble.
On the London ICE Brent crude continues today growth, increasing 0.1% per barrel at $74,98. The market continued to recoup yesterday’s positive data on the dynamics of commercial stocks in the United States, significantly exceeded market expectations. We believe that in the coming days the cost of a barrel of Brent will be $74,5-76 per barrel.
According to estimates Alpari USD/RUB is saved in the 67-68 range,5 rubles per dollar, and EUR/RUB in the corridor 78 -79 RUB for Euro.
Natalia Milchakova,
The Deputy Director of analytical Department,