The ruble has dealt a blow to the dollar, what happened with the course

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Wednesday, March 13, in the foreign exchange market was dominated by the discordance. The ruble has again hit the dollar, but the attack on the Euro fails. At the close of trading, the dollar calculations “tomorrow” fell by 24 kopecks (mobility in soil -0,35%), to 65.4 RUB, and the rate stubbornly resisted the Euro increased by 7 kopecks (+0,1%), to RUB of 74.13
The Euro rose slightly against the ruble after the results of the vote in the British Parliament on Bracito without a deal with the European Union, which failed. Today the UK Parliament will again have to vote, but now on the question of the appeal to the EU authorities with a request to defer the start date Brekzita. Probably, the decision of the British Parliament will be positive, but in this case the ball is on the side of the EU, whose consent will depend on timing Brekzita.
The Russian Ministry of Finance on Wednesday posted a BFL on a record amount in one day, which amounted to 91.5 billion rubles, which provided good support begun earlier to strengthen the ruble. Were placed two issues of OFZ-PD: 26224 maturing in may 2029 under average yield of 8.47% per annum and 26209 with maturities in July 2022, with yield of 8% per annum.
The price of Brent crude on the ICE on 13 March rose by 1.47% to $of 67.56 per barrel. Most of the increase in oil prices stimulated released on Wednesday evening, the data about stocks of oil in the United States, which fell by 3.86 million barrels while the market had expected, on the contrary, growth stocks by 2.66 million barrels.
Also, Bloomberg reported on Wednesday that the recent blackout in Venezuela led to the drop in oil production by 50%, that is 1.1 million barrels per day to 500 thousand barrels per day due to the shutdown of some oil-producing enterprises of the Corporation PDVSA, already under sanctions. Later that evening came the news that Venezuela resumed oil shipments to its customers in full. This morning the price of Brent crude oil is growing again, adding 0.2 percent.
We believe that today, at the opening again, the ruble will be strengthened. While the actual range in the pair dollar/rouble will remain range 65-66 RUB and EUR/RUB – 73,6-74,5 RUB.
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Natalia Milchakova,
Deputy Director of information-analytical center,
Alpari