The dollar calculations “tomorrow” to 19.21 MSK decreased by 0.74 ruble – to 61.97 rouble, the Euro rate was 1.23 ruble – to 70,67 ruble. The ruble during the session on Thursday traded in the black, reacting to internal factors.
MOSCOW, 15 Oct. Dmitry Mayorov. The ruble against the dollar and Euro on Thursday evening rose on the background of attempts oil to stay near $ 49 per barrel Brent.
The beginning of the tax period and the high demand for OFZ cause inflation rates to increase in the market of ruble-denominated lending, which supported the ruble exchange rate.
The dollar calculations “tomorrow” to 19.21 MSK decreased by 0.74 ruble — to 61.97 rouble, the Euro rate was 1.23 ruble — to 70,67 ruble, follows from the data of the Moscow exchange.
The ruble again adds
The ruble during the session on Thursday traded in the black, reacting to internal factors, while oil prices remained under pressure below $ 49 Brent.
According to the U.S. Department of energy, commercial oil reserves in the country (excluding strategic reserves) for the week ending October 9 rose by 7.6 million barrels to 468,6 million barrels. Analysts had expected the index to increase by only 2,848 million barrels, to 463,848 million barrels.
Oil production in the U.S. last week, according to the Ministry, fell by 76 thousand barrels per day — up to 9,096 million barrels. The oil reserves in the country’s largest terminal Cushing (Cushing) has increased by 1.1 million barrels to 54.2 million barrels.
Support the rouble have increased interest rates on ruble loans at the beginning of October of the tax period.
So, MosPrime rate for overnight loans at Thursday amounted to 11,55% per annum, which is more than 0.5 percentage points above the key rate of the Central Bank of the Russian Federation.
The demand for rubles is also supported successfully passed the auction on placement of OFZ bonds with face value tied to inflation (OFZ-IN) series 52001 maturing in August 2023 at 20,222 billion. The demand was 92,616 billion. The weighted average yield amounted to 3,27% annual.
According to media reports, California pension Fund Calpers has attempted to participate in the placement to add the issue to its portfolio of government bonds in the amount of about 16 billion rubles, but the request remained unsatisfied.
In the end, dollar and Euro decrease by a few tens of cents to the areas 62 and 71 rubles rubles respectively. Euro depreciates faster than the dollar against the background of weak dynamics of the European currency on Forex.
Forecasts and recommendations
Ruble ignores the decline in oil prices, says Dmitry Gurkovsky from RoboForex. “Investors are quite positive and beneficial in relation to risk-weighted assets, refer to the support during the period of tax payments and avoid contact with fundamental data,” he says.
“The dollar will hold an auction Friday in the range of 61.7-63.1 rubles, the Euro will potorguemsya in the hallway 70,40-71,65 the ruble,” he added.
The price of oil in the Russian currency continues to decline and has almost reached 3000 rubles per barrel, says Ivan Kopeikin from “BCS Express”.
“This year around these values, generally there was a reversal. Therefore, in the near future, the ruble, is likely to show weaker momentum than oil,” — said Kopeikin.