The growth of the ruble is a short-term phenomenon
The Russian ruble by the middle of the trading day on Monday has ceased to decline in a basket of currencies and will come out. The US dollar to date, retreating 0.2 percent and is trading at 65,58 RUB Euro fell 0.3 percent and costs of 74.74 RUB Courses of the Bank of Russia on Thursday, 30 October, increased for both currency and amount of 65.81 RUB per US dollar (+18 cents) and 75,03 rubles for Euro (+37 cents).
Oil prices, meanwhile, in the red. A barrel of North sea Brent raw materials is now $77,57 (-0,1%). At the site of a lull – the closer to November, the more nervous fluctuations due to the imposition of full sanctions of the U.S. against Iran. Part of this stress is already priced in, but exclude any mood swings too.
Some recovery in the ruble can be connected with internal local stories – the market today is feeling OK, exchanges are trying to recover, although it is recognized that compelling reasons for joy is still small.
It is worth keeping in sight the fact that on the world currency market the US dollar is attempting to return to strengthening. In addition, the oil market is able to quickly deepen the reduction, if the news flow will remind you about the production of black gold OPEC+ maximum pace.
The US dollar will finish today’s trading in the range of 65.50-66,10, the Euro and finish in the borders 74,60-of 75.10 RUB.