The ruble in the first half of the day grew and the dollar fell to the Euro

The ruble in the first half of the day grew and the dollar fell to the Euro


The ruble was slightly corrected upwards after falling yesterday amid a correction in oil prices. While the Euro looks more confident than the dollar, so the dollar against the ruble during the day is declining and the Euro is growing.

MOSCOW, 20 Oct. Dmitry Mayorov. The ruble in the first half of the trading fluctuated oppositely directed near the levels of the previous closing on the background of attempts oil to keep near the level of 48.5 dollars per barrel of Brent.

A break in the tax period partially withdraws support for the rouble, dealers say.

The dollar calculations “tomorrow” to 15.33 Moscow time has decreased on 0,11 ruble — to 62,15 of the ruble, the Euro grew by 0.15 ruble — to 70,65 ruble, follows from the data of the Moscow exchange.

Ruble follows oil

Courses of the ruble against the dollar and the Euro in the first half of the day ranged without any dynamics in the absence of strong external signals.

So, in the morning, the rouble was slightly corrected upwards after declining the day before. The price of oil, which reached almost up to 48 dollars, supported the correction.

Then oil, rebounding from a specified local bottom, tried to adjust up, which supported the ruble.

The Euro against the ruble looks more confident than the dollar, amid expectations of performances on Tuesday the head of the U.S. Federal reserve Janet Yellen. Expectations that the pause with the interest rate hike the U.S. Federal Reserve will be delayed, supports the Euro adjusting upwards against the dollar.

As a result, the dollar against the ruble during the day is decreasing and Euro is growing, which generally leaves the value of the currency basket (0.45 euros and 0.55 dollars) stable.

Forecasts and recommendations

Support for the ruble from exporters now small due to the interval between payments, most of which will be on Monday, says Denis Davydov from Nordea Bank.

“As a result, a larger effect should be expected on Monday, and partly Tuesday. Short term the dollar will remain in the range of 61.5-63 ruble, the after tax vapor rather go out into the hall 63-65, provided that the oil will present no surprises,” he added.

Support the Russian currency from exporters already present — the ruble price of oil ended the day Monday at a low point in 3030 rubles per barrel, analysts of ROSBANK.

“In the future, currencies of developing countries have the opportunity to win back losses is the ground for a recovery of risk appetite creates a declining attractiveness of the American currency on the Forex market”, — added in ROSBANK.