The ruble is trading in a slight growth in oil trying to bounce up from $36

The ruble is trading in a slight growth in oil trying to bounce up from $36


The dollar calculations “tomorrow” has decreased on 0,16 ruble – to 71,07 rubles, the Euro by 0.01 ruble to 77,81 ruble, follows from the data of the Moscow exchange.

MOSCOW, 22 Dec. Dmitry Mayorov. The ruble Tuesday afternoon fluctuated slightly up, reflecting attempts of the oil market to push up from 36 dollars per barrel of Brent.

The December tax period in the Russian Federation also supports the ruble.

The dollar calculations “tomorrow” to 16.18 Moscow time has decreased on 0,16 ruble — to 71,07 rubles, the Euro by 0.01 ruble to 77,81 ruble, follows from the data of the Moscow exchange.

Attempts correction

Courses of the ruble against the dollar and Euro on Tuesday afternoon tried to be adjusted upwards. Support the Russian currency was rendered by positive dynamics of the oil market, where the “black gold” tries to push up from 36 dollars per barrel of Brent – the lowest since 2004.

However, the pressure on the energy market is maintained. The leaders of the U.S. Congress agreed on a fiscal plan that will allow you to lift the ban on exporting crude oil from the United States. Possible lifting of the ban will significantly increase the volume of supply on the oil market.

In addition to the factor prices of oil the ruble is focused on the banking sector liquidity. High stakes in this market are provided in the tax period in Russia, which traditionally supports the national currency.

In the end, while the dollar and Euro on Tuesday afternoon slightly losing in value against the ruble.

Forecasts and recommendations

The RF balance of payments remains strong, allowing the ruble to feel confident, says Sergey Kochergin from the Exness group of companies. According to the CBR statistics, on 22 December, the debt of the credit organizations on the second part of the currency REPO transactions decreased from a peak year to $ 34 billion to $ 19.4 billion, he said.

“According to the calculations of the regulator, in the first quarter of 2016 payments on the foreign debt of the corporate sector of the Russian Federation taking into account intra-group payments of only $ 6 billion. From the point of view of the balance of payments of the Russian Federation reduces the consumption of imports is stronger than its exports falls. For the first 10 months of this year, Russian imports decreased by 38% (yoy), and exports by 31.8 per cent,” said Kochergin, speaking of the factors supporting the ruble.

The decline of the oil market cannot be infinite, says Vladimir Zotov from the Ural Bank of reconstruction and development. “Maybe we’ll see lower prices, but they also become the source to resume positive dynamics, the bottom has not yet been achieved, but close,” he says.

“However, it will be the subject of 2016. And while in the pre-Christmas activity on all trading floors is reduced,” — said Zotov.