The dollar calculations “tomorrow” to 16.08 GMT decreased to 68,73 of the rouble, the Euro rate to the ruble 75,23 on the background of stabilization of the market of oil around 40 dollars per barrel of Brent.
MOSCOW, 10 Dec. Dmitry Mayorov. The ruble in Thursday afternoon trading as a strong advantage to the dollar and the Euro, which has already decreased almost to the level of 75 rubles.
Stabilization of the oil market about 40 dollars per barrel of Brent and verbal interventions help the Russian currency to be adjusted upwards.
The dollar calculations “tomorrow” to 16.08 GMT decreased by 0.64 ruble — to 68,73 of the rouble, the Euro rate — on 1,21 ruble to 75,23 ruble, follows from the data of the Moscow exchange.
Correction of the ruble up
The ruble against the dollar and Euro on Thursday afternoon confidently increased by wining the us currency the mark of 69 rubles and 75.5 ruble — European. Support comes from oil prices stabilized around $ 40 per barrel of Brent.
According to the U.S. Department of energy, commercial oil reserves in the country for the week ended December 4, decreased by 3.6 million barrels — up to 485,9 million barrels, while analysts had expected growth of stocks at 0,252 million barrels — up to 489,652 million barrels. Oil production in the U.S. last week, according to the Ministry, declined by 38 thousand barrels per day — up to 9,164 million barrels.
Some support the rouble has a statement by Russian Finance Minister Anton Siluanov that Russia does not intend to withdraw from membership in the IMF because of changes to their credit policy, which allows Ukraine to continue to receive IMF loans if default on debt to Russia to $ 3 billion, dealers say.
In addition, Siluanov said that capital outflow from the country in 2015 will amount to 60 billion dollars. This is more than two times lower than initial estimates.
Finally, support for the ruble came from Italy to start a “political debate” on the issue of extending sanctions against Russia, and to renew them automatically.
Forecasts and recommendations
The December meeting of the U.S. Federal reserve remains quite a bit of time, during which market participants learn of the November data on retail sales, inflation, industrial production in the U.S., says Sergey Kochergin from the Exness group of companies.
“The statistics did not alter the determination of the fed raising 16 December rate, but may affect the subsequent rate of increase. Amid the expected decline in oil prices below $ 40 per barrel the Central Bank of the Russian Federation it is best not to make any sudden movements and keep 11 December, the key rate unchanged at 11%. The pair USD/RUB within the range of 70-72 is only a matter of time,” he said.
The main event for the Russian currency will become the decision of the Bank of Russia key rate, which the regulator will announce on December 11 after the latest meeting, says Irina Rogova of the Forex Club group of companies.
“It is possible that the controller and the last in this year meeting will refrain from a rate cut, keeping it at the current level of 11% (and this is perceived as an aggressive action), which may provide support for the ruble, target the EUR/USD to return to the level 68. However, at the beginning of next year the rate may be lowered to stimulate economic growth,” she added.