The Finance Ministry would support the dollar
The Ministry of Finance almost did not leave chances ruble. Bitcoin drops again. The Finance Ministry has announced its plans for the purchase of foreign currency in April. On foreign exchange intervention will be allocated a little more than 240 billion rubles. This is a quarter more than in the previous month. The actions the Ministry of Finance practically leaves no chance of the ruble.
Because the second quarter traditionally marked by the increase of imports and decrease exports, reducing foreign exchange earnings to the country. And most of all foreign exchange earnings, in fact, redeem the Ministry of Finance. Add to this some downside risks to oil prices, geopolitical tensions and in the end we get a “compote”, which will help further strengthen the Russian currency.
On this background the dollar exchange rate on the Moscow stock exchange held in the area of 57 rubles 55 kopecks, the Euro traded at around 70 rubles 60 kopecks. The MICEX index rose to 2280 points, quotes of Brent crude oil holding just above $ 68 per barrel. Bitcoins according to the website CoinMarketCap is located at the level of 6800 dollars.
Bitcoin exchange rate in no hurry to grow. Quotes of the world’s largest cryptocurrency dropped to $ 6500 for the first time since 7 February. The breakdown of the February lows may lead to further weakening of altcoins. As for the Russian ruble, here are our predictions remain the same. We believe that in April the trade to shift in the range of 58 to 59 rubles per dollar, and by the summer it is possible to expect strengthening of the dollar down to 60.
The head of the analytical Department of the company,