Dollar and Euro in the middle of a Thursday drop by several dozen of cents in the regions 62 and 71 rubles rubles respectively.
MOSCOW, 15 Oct.Prime, Dmitry Mayorov. The ruble during the day increased on the background of the beginning of October of the tax period, increased the demand for rubles.
Fluctuations in the value of oil above the level of 49 dollars per barrel of Brent also support the Russian currency.
The dollar calculations “tomorrow” to 15.54 GMT decreased by 0.52 ruble — to of 62.19 ruble, the Euro — 0.80 ruble — to 71.10 metres of the ruble, follows from the data of the Moscow exchange.
Ruble returns the position
Courses of the ruble against the dollar and the Euro is increasing day by day in the direction of the highs of last week, have not seen since the summer.
After several days of correctional growth of the major reserve currencies, they again began to decline against the background of 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 1.5 percentage points above the key rate of the Central Bank of the Russian Federation.
The price of oil, fluctuating Friday above $ 49 a barrel Brent, also supports the exchange rate of the Russian Federation.
Market participants are awaiting data from the energy information administration of the U.S. Department of energy on oil reserves in the country. According to the American petroleum Institute (API), over the past week they rose 9.4 million barrels to 465,96 million barrels, the forecast increase by only 2.8 million barrels.
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
Some recorrelate ruble and oil due to the depreciation of the dollar against global currencies due to the growth of confidence in markets that this year the fed will not tighten monetary policy as economic data continues to give cause for doubt, says Vladimir Zotov from the Ural Bank of reconstruction and development.
“The General attitude of investors and their favourable location in relation to risky assets may continue to play in favor of the Russian currency, which will enable her at least to hold current positions and even to improve them. Expected trading range for today is 61,9-62,9 rubles per dollar”, — he said.
The period of tax payment can provide additional support to the ruble, said Maxim Korovin of “VTB Capital”.
“However, from a fundamental point of view with oil price of 50 dollars per barrel, levels at which at the moment is trading the ruble, in our opinion, seem fair,” he added.
Already around 63.2% of the buyers of the ruble has been activated again, said Alexei Malikov from the company “trade portal”.
“As a result of their activity rates returned to around 62, which at this stage acts as local support for the U.S. currency. Her break will send the price to test levels around 60.8%. Otherwise, the rebound from this level will leave the quotes in the range of 62-63,2 rubles,” — said Malikov.