The ruble is inspired by the expectation of budget surplus

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At the auction of the Moscow exchange, the ruble in the first half of the day strengthened against the dollar and the Euro. At the opening of trading, the dynamics of the ruble was stable, but increasing trends prevailed. So, the dollar is currently falling against the ruble on 0,34%, to RUB 65,543 per U.S. dollar, and the Euro depreciates against the ruble is a little less – 0.29%, to 75,125. the European currency. The Bank of Russia announced that for the weekend and Monday, October 22, the official exchange rates: the US dollar will be 65,814 RUB and Euro – RUB 75,3241
Published draft amendments to the Russian Federal budget for 2018 and 2019-2020 had a positive impact on the ruble. According to the new version of the budget law, the Federal budget surplus in 2018 will increase significantly and will be of 2.14 trillion rubles. budget Revenues will increase by 11% to 18.94 trillion, and expenditure will rise by only 1.3%, to 16.8 trillion Its role in the strengthening of the ruble plays and the beginning of the tax period.
The price of oil mixture Brent on London exchange ICE is much increased by 1.3% to $79,55 per barrel. The market expects the coming into full force of the oil embargo against Iran, and the negative Outlook OPEC slight slowdown in oil demand in 2019 is already priced in. We expect Brent crude oil in coming days could return to levels of $79-80 per barrel.
Current trading range on Friday for the US dollar we see a 65-66 RUB and Euro – RUB 75-76
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Natalia Milchakova,
The Deputy Director of analytical Department,
Alpari