The ruble weakened after the tax period

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Russian ruble continues indistinct traded in pairs in foreign currencies. The U.S. dollar is worth to the present time of 65.62 RUB and grows by 0.15%. Euro retreats 0.15% and is trading at 74,98 RUB the Courses of the Central Bank of the Russian Federation on Wednesday, November 21, are 65,58 rubles per dollar and 75,18 RUB for Euro. The rating is lowered in both cases, 42 and 14 cents, respectively.
The U.S. dollar is now gradually regaining its lost global currency market, the ruble reacts to it, but not yet bright.
The commodity market looks exactly. A barrel of North sea Brent oil by mid-session trading at $66,62, and slightly reduced for barrel WTI, the situation has stabilized, there bids are about $57,22. Tonight will be published fresh data on stocks of oil and oil products in the United States, and there is reason to expect that the statistics API to confirm a ninth consecutive week of growth of the indicator for the oil. It is worth repeating that for oil prices is bearish signal.
As reported today by the first Deputy Chairman of the Bank of Russia Ksenia Yudaeva, in December, the Central Bank will assess the situation and make the decision to return to the market. Until January, the Central Bank of the Russian Federation on the court to act will not be suspending informed buying currency for the Ministry of Finance in the budgetary rules. Now the needs of the Ministry of Finance covered from our own reserves of the Central Bank – and nobody knows at what rate the Central Bank sells the currency to the office.
Given that the Ministry of Finance needs large amounts of funds, it is logical that the Central Bank is looking for an entry point into the market. It is not excluded that in the near future – after the end of the tax period, the ruble will weaken when investors realize what is happening, and will play the intention of the Central Bank of the Russian Federation to return to the market.
The U.S. dollar will close today’s session within 65,35-66,10, the Euro finishes in the hallway 74,80-75,75 RUB.
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Anna Bodrova,
Senior analyst,
Alpari