The ruble has stabilized after the auctions of the Ministry of Finance of the Russian Federation

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The Russian ruble by the middle of the trading day on Wednesday moderate strengthening to a basket of currencies. The U.S. dollar is trading at 56,84. (-0,3%). The Euro is worth 70,36 RUB (-0.4 per cent). Official rates of the Central Bank of Russia for tomorrow, March 15, the amount of 56.93 RUB for the American currency and 70,53 rubles. for European. Both estimates revised for a promotion, 0,001 rubles and 38 kopecks, respectively.
The oil market in the first half of the day made no headway, but in the afternoon investors started to buy. A barrel of North sea Brent costs $64,85 and growing by 0.3%. In yesterday’s statistics from the API shows that the reserves of black gold continues to increase, while increased demand for gasoline and distillate puts pressure on the stock settings. Tonight will be published the official release of the US Department of energy reserves, which, according to the survey of Bloomberg, can be seen in the growth of oil reserves by 1-2 million barrels. Will be very interesting and the data on daily production of black gold in the United States.
In the morning the position of the ruble supported the MinFin auction on placement of OFZ. After a record of placements-March, the Agency has decided not to overload the securities investors and keep the interest in OFZ high. Today, buyers were offered editions 26225 20% 26223 as 20 billion rubles. the Official conclusion on the results of the auctions yet, but most likely, the order book was oversubscribed about two times.
Investors do not respond to information about CSR proposal to abolish exchange controls in the country in exchange for the tightening of international exchange of tax information and strengthening supervision and money laundering. For the currency market in General, no special difference, whether you pay the debtors, overdue regular payments, penalties or no, but for the economy this is an interesting proposal.
The US dollar closed today’s session at within marks 56,65-57,25, the Euro and within the boundaries 70,10-70,85 RUB.
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Anna Bodrova,
Senior analyst,
Alpari