The ruble may repeat the fate of Bolivar

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The Minister of economic development promised the acceleration of the economy in the fourth quarter of this year. This will enable us to reach annual GDP growth of 1.8%. Recall that in August and September, the economy has shown annual growth of just above 1%. Such bad data in Mineko associated with the drawdown in agriculture.
Meanwhile in the state Duma are discussing the possibility of de-dollarization by transferring the Russian economy to the digital rails. The example of MPs puts Venezuela, which during the worst economic crisis introduced its own crypto currency and attracted huge investments. Quite difficult to comment on such proposals, because the real ways of getting rid of the dollar dependence yet. The example of Venezuela as an economy that was able to get rid of the us currency, actually looks pretty funny. Follow in the footsteps of one of the weakest economies in the world? And the ruble may send in the footsteps of Bolivar?
Meanwhile, the auction of the Moscow exchange the dollar gives 65 rubles and 25 kopecks, the Euro traded at the level of 75 rubles 5 kopecks. The MICEX index bounced up to 2,355 points, and oil quotations of mark Brent continues to stay around 80 dollars per barrel. Bitcoins according to the website CoinMarketCap is located just below 6500 dollars per unit.
At the auction of the Moscow exchange ruble rises against the dollar and the Euro. It is connected locally with the beginning of tax week in Russia. To 25 the number of exporters will have to pay mineral extraction tax. This factor has traditionally provided support to the domestic currency. We said earlier that the ruble has all the chances to grow. The dollar may fall to a point below the level 65. It will be a great buying opportunity for the medium term within which we expect the strengthening of the dollar in district 67 – 68 rubles.
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Gleb Zadoya,
The head of the analytical Department of the company,
ANALYTICS Online