According to the Moscow exchange, the dollar calculations “tomorrow” to 19.41 MSK increased by 0.10 rubles – up to 61,472 of the rouble, the Euro rate – 0.63 ruble, ruble to 69.85.
MOSCOW, 9 Oct. Dmitry Mayorov. The ruble against the dollar and Euro in the evening fell within the correction after the retreat of oil below $ 53 per barrel Brent.
The proximity of the weekend held buy very low during the week of dollars and euros.
The dollar calculations “tomorrow” to 19.41 MSK increased by 0.10 rubles — up to 61,472 ruble, Euro — ruble 0.63, to 69.85 ruble, follows from the data of the Moscow exchange.
The ruble during the session on Friday showed multidirectional vibrations. From early morning, the rouble was strengthened by inertia to both reserve currencies on the backdrop of attempts by the cost of oil to reach the area of 54 dollars per barrel of Brent.
Investors with optimism have won the statements by the OPEC Secretary General Abdullah El-Badri, according to which the demand for oil in 2015 will grow by 1.5 million barrels a day, and in 2016 — 1.3 million barrels per day, which exceeds the previous forecast of the cartel.
At the same time in four trading session the dollar from the highs of late last week, lost (to a minimum Friday) for about 5.9 per ruble and Euro — more than 6 rubles. In the end, the main reserve currency has been oversold and overdue for a correction up, say dealers.
Night oil went down within the correction and fell below 53 dollars per barrel of Brent, pulling down the ruble.
Besides, before the weekend, market players stepped up profit-taking from the growth of the ruble as against the military operation of Russia against ISIS in Syria remain geopolitical risks, experts say.
As a result, both the currency basket of the Central Bank become more expensive, and the Euro significantly more quickly than the dollar, given the strong dynamics of the European currency on Forex.
Forecasts and recommendations
In General, external background remains moderately positive for the Russian currency, but near current levels (of 60.5-61 rubles per dollar) you will notice a strong support from which the pair “dollar-ruble” could be adjusted upwards, said Ivan Kopeikin from “BCS Express”.
“The immediate goal in this case will be the mark 62 of the ruble. From current levels you can try to catch the rebound in the dollar with a minimum upside target to 62 rubles,” — said Kopeikin.
The improvement of the situation with foreign exchange liquidity in the Russian credit institutions and companies contributed to the reduction of interest rates of funding and enabled banks to draw refinance at a lower cost than offered by the Central Bank, said Iskander Abdullaev from company “Sberbank CIB”.
“In the end, the amount of obligations to be redeemed with currency REPO by the Central Bank, decreased to 29.5 billion dollars — the lowest level since the end of March”, — he noted, speaking about the demand for the currency.