The ruble is depressed and in the coming days, the growth excluded

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Following the increase in VAT, increase in excise tax on gasoline and the introduction of other fees, the Russians are preparing “a tax on sausage” and other products of meat processing. Its size can be more than 160 rubles per 1 kilogram of sausage and bacon. It is noteworthy, that the Ministry of health supported the initiative, arguing that it will contribute to a healthy lifestyle of Russians.
Meanwhile, Russian banks massively increase interest rates on dollar deposits. Recall that in the late summer, early autumn, many commercial banks have lost a large share of foreign currency deposits. The reason for this was rumors that because of the new us sanctions foreign exchange investors can forcibly change dollars for rubles.
Against this background, the U.S. dollar exchange rate on the Moscow stock exchange this morning is the mark of 65 rubles 85 kopecks, the Euro traded at the level of 75 rubles and 25 kopecks. The MICEX index rose to 2385 points, while the price of Brent crude oil to stay in the region of $ 67 per barrel. Bitcoins according to the website CoinMarketCap is around 5300 dollars.
The Russian currency once again do not give rise against the dollar and the Euro. Today at the opening of the Moscow exchange was an attempt to break 65 rubles for dollar. However, this attempt was immediately bought by speculators, who do not believe in the growth of the domestic currency. We have previously said that potential growth of the ruble is practically no. This week, support for the rouble may have a tax week.
However, other reasons for building “wooden” unfortunately not. Our recommendation to buy the dollar in the range from 65 to 66 rubles remains relevant. By the end of the year we may shift to trade in the range of from 67 to 68 rubles. It is likely a one-time breakthroughs in the area is 70 rubles per dollar.
Gleb Zadoya,
The head of the analytical Department of the company,