Why increased the ruble?

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The MICEX index has historical records. The ruble rose before the auction of OFZ. On the eve of the index of the Moscow exchange has updated the historical maximum, reaching the level of 2379 pips. However, how long to linger on the occupied heights quotes failed. Now we are seeing a fairly active reducing. The growth of the ruble index Mosberg was provided, including the growth of the ruble. And if you look at the dollar index of RTS, it failed to break above the may highs in the region of 1200 points.
The center of attention yesterday investors were not only the MICEX index, but the domestic currency, which significantly increased against the U.S. dollar and the Euro. The increase was due to purchases of rubles before the auction OFZ. Today the Ministry of Finance plans to place Federal loan bonds for a total amount of 40 billion rubles. This is the largest placement since March, and judging by yesterday’s dynamics of the domestic currency the demand for Russian government debt today must be high enough.
This morning at the auction of the Moscow exchange the dollar gives 62 rubles 15 kopecks, the Euro traded at 72 rubles 75 kopecks. The MICEX index fell to 2340 points, quotes of Brent crude oil fell to $ 77 per barrel. Bitcoins according to the website CoinMarketCap is located in district 6400 dollars.
Today we are witnessing the weakening of the ruble against the dollar and against the Euro. Our recommendations remain unchanged. We continue to believe that the summer will be quite difficult for local currency and it is likely that by the end of summer or beginning of autumn we will see the dollar level 65-66 rubles. Buy recommendations at 62 rubles to the dollar we saved.
Gleb Zadoya,
The head of the analytical Department of the company,