The dollar received an order from the fed to strengthen
The new head of the fed gave the signal for the dollar. Investments of the government of Russia in foreign currency losses. Two-thirds of Russians said their standard of living average.
Yesterday was the first statement of the new head of the fed after the inauguration. Jerome Powell spoke before the U.S. Congress. He confirmed the intention to gradually increase interest rates, and estimated economic growth prospects as favorable. All that investors took as a signal to buy the U.S. currency. Yesterday the dollar strengthened on a broad front to other currencies in the international currency market Forex.
Meanwhile, the Finance Ministry reported on the results of the investment of government reserves in foreign currency. By the end of 2017, the net loss from investments in foreign assets was 0.1%. For comparison, the oil Fund of Norway to 2017 recorded the highest yield of 13.7%. Even last summer the amount of money in a government Fund of Norway made up more than a trillion dollars, and over the past year, managers have earned more than $ 130 billion for its citizens.
On this background the dollar exchange rate on the Moscow stock exchange rose to the level of 56 rubles 35 copecks, the Euro traded at the level of 68 rubles 90 kopecks. The MICEX index has corrected to 2330 points, the quotes of Brent crude oil has again fallen slightly below 67 dollars per barrel. Bitcoins according to CoinMarketCap approaching the mark of $ 11,000.
According to the February “Monitoring the socio-economic situation” of the Ranepa more than 66% of Russians said their standard of living “average”. According to Rosstat, nearly 55% of our population earn less than 25,000 rubles per month. Almost 30% receives less than 15,000 rubles, and one in ten live on less than 9000 rubles. In General, live in poverty, but we believe that this is the absolute norm. While more than half of Russians live on a salary less than 25,000 rubles per month oil Fund of Norway earned for every citizen of the country almost $ 25,000 last year. What can I say, Norway is a fairly large oil state, can afford.
As for the situation with the Russian ruble, which yesterday in the early trading session showed a very positive trend, as we said, the depreciation of the dollar may be perceived by market participants as an opportunity to buy the dollar at a low price. It now uses the MinFin buying foreign currency on the market. Most likely closer to the second quarter of 2018, the rate of shift in the range 57 to 58 rubles at the current dynamics in the oil market.
The head of the analytical Department of the company,