The ruble steadily went up against the dollar

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The ruble continues to win back the previous wave of the fall in a basket of currencies. Since the sharp rise of the dollar on the background of the incident in Salisbury on 8 August, the ruble has retraced roughly half of the reduction, and focus seems to be on consolidation. Fluctuations of the last month in the pair dollar/ruble to date, fully leveled. The U.S. currency to date, is trading at 67,05 RUB and decreases by 0.5%. The Euro is retreating by 0.2% and is trading at 78,39 RUB.
Courses of the Bank of Russia on Thursday, 20 September, reduced for the dollar and the Euro and the amount of 67.00 RUB for the American currency (-75 cents) and 78,36 RUB over the European (-81 penny).
If external background will remain in the near future quiet and oil – expensive, the dollar can decline further. While the “bottom” of the decline seen in the area of 66,50-of 67.00 RUB per US dollar, especially as the auctions the Ministry of Finance on placement of OFZ are not carried out – the market is nervous, there is also no targeted purchases of foreign currency in reserves. Right now the currency segment to himself. If the surrounding conditions get a little worse (aktiviziruyutsya trade wars exacerbated the geopolitical component), the dollar will quickly return to the area 68,50 RUB.
Oil prices in the second half of the day on Wednesday went down to minus. A barrel of Brent is retreating by 0.2% and is trading at $78,84. Report of the American petroleum Institute showed that oil reserves in the United States rose 1.25 million barrels. Gasoline inventories decreased by 1,485 million barrels, distillate stocks expanded to 1,536 MB. Tonight, a similar release will release US Department of energy, and if the data confirm the increase of energy reserves, commodity prices may decline further.
The greenback is likely to finish today’s session within 66,90-67,35, the Euro and within the boundaries of the 78,10-78,85 RUB.
Anna Bodrova,
Senior analyst,