The ruble, the Expert cited three reasons for growth in January
The ruble today is limited retreats. The US dollar is 67,02 RUB (+0,2%). The Euro is trading at RUB of 76.75 (+0,3%). The Central Bank of the Russian Federation for the first time after the holidays revised rates of foreign currencies. They downgraded in both instances and is as follows: 67,07 RUB per U.S. dollar (reduced at 240 cents) and RUB over 76,90 euros (reduced to 256 cents).
Today the Ministry of Finance of the Russian Federation does not conduct auctions on placement of OFZ – apparently, it takes time to assess market conditions and potential demand. The last three auction in 2018 was not too effective. But on the eve held a REPO auction, under which the fine was seen as the business requires ruble liquidity. The demand was high, but unlikely to be repeated in the near future.
The surge of optimism in the ruble in the last days is to evaluate through the prism of a complex of factors. First, January is historically the need for cash dollars lower than in December, it frees up the ruble from the pressure on this side. Second, the oil well came off. Thirdly, the market was thin and illiquid, and against this background, the volatility is always off the charts. Maybe a dollar and is ready to slip to 66 rubles., but in any case only be temporary.
The price of oil by the middle of the day holding on to good plus. A barrel of Brent recovers vigorous pace and costs $59,92 (+2%) on the background of the negotiations between China and the United States and because of a bullish signal from the API that showed inventories of crude oil in the United States last week, more than 6 million barrels.
The US dollar will finish today’s session in the range 66,80-67,50, the Euro will end the day in the hallway 76,50-77,10 RUB.
Senior analyst at information-analytical center,