On the background of the incident with the Russian su-24 and statements of the government of the Russian Federation regarding Turkey dollar exchange rate calculations “tomorrow” to 18.45 Moscow time has risen to 65,79 ruble, Euro – ruble to 69.85.
MOSCOW, 26 Nov. Dmitry Mayorov. The ruble against the dollar in the evening fluctuated slightly below the levels of the previous close.
Geopolitical risks have resurfaced on the background of statements of the government of the Russian Federation in relation to Turkey.
The dollar calculations “tomorrow” to 18.45 MSK increased by 0.27 ruble — to 65,79 of the rouble, the Euro rate by 0.25 ruble to 69.85 ruble, follows from the data of the Moscow exchange.
The ruble continued to fall
The ruble against the dollar during the session on Thursday showed no single dynamics. So, the morning was celebrated fighting bulls with bears at the prevailing exchange rate levels.
However, in the second half of the day the pressure on Russian assets and the rouble in particular have increased. The reason for this is the statement of the Chairman and the members of the government of the Russian Federation concerning relations with Turkey in the aftermath of Tuesday’s crash of a Russian su-24 because of the attacks of the Turkish air force.
Prime Minister Dmitry Medvedev at a government meeting on Thursday called the attack on the su-24 is an act of aggression of Turkey against Russia and said that the government will adopt a series of economic retaliation. In particular, can be suspended economic cooperation program, restrictions in financial and trade areas, investment projects collapsed. Will consider a ban on the activities of the Turkish companies in Russia.
On the background of concrete applications, in particular, Minister of economic development Minister Alexei Ulyukayev on “Turkish stream”, the slide of the ruble intensified.
Uncertain dynamics of oil market added excitement ruble bears.
The passage of the peak of tax payments to pin down the levels of the rates on ruble credits, which also reduced support the ruble.
In the end, the evening he lost the main reserve currencies by about 30 cents.
Forecasts and recommendations
In December, the Russian company has to make large payments on foreign borrowing in the currency so the demand for rubles in the near future can be diminished, and the U.S., conversely, grow up a bit, appreciated Ivan Kopeikin from “BCS Express”.
“An additional risk for the commodity currencies remains the possibility of a rate hike at the nearest meeting. Also, do not exclude a further deterioration of relations between Turkey and Russia, which in General is not a positive for the currencies of both countries. So the pair EUR/USD may resume the rise with the immediate goal in the area 67”, he concluded.
Tax period in the Russian market has entered the homestretch — the end of the month the banks will have to list the payments under the tax, said Yuri Kravchenko from IK “Veles Capital”.
However, although the factor payments already weakening, the demand for ruble liquidity may remain elevated because of the persistence of the Central Bank’s modest limits on REPO auctions, he added.