The dollar calculations “tomorrow” has decreased by 1.46 ruble – to 69,77 of the rouble, the Euro rate by 2.13 ruble – to 75,92 ruble, follows from the data of the Moscow exchange.
MOSCOW, 23 Dec. Dmitry Mayorov. The ruble against the dollar and Euro in the evening actively restored on the oil market to gain a foothold above $ 37 per barrel of Brent.
The demand for rubles in the framework of the tax period supports the Russian currency, the ruble and the price of “black gold” remains near multi-year lows — below 2,6 thousand rubles per barrel of Brent.
The dollar calculations “tomorrow” to 20.56 MSK decreased by 1.46 ruble — to 69,77 of the rouble, the Euro rate by 2.13 ruble — to 75,92 ruble, follows from the data of the Moscow exchange.
The steady rebound of the ruble
The ruble against the dollar and the Euro during the session environment mainly increased. The main impetus came from the attempts of the oil market to open slightly higher, which helped the weekly statistics.
Commercial oil stocks in the USA (excluding strategic reserves) for the week ended December 18 fell by 5.9 million barrels — up to 484.8 million barrels. Analysts, however, expect that figure increased distributed among 1.083 million barrels — up to 491,783 million barrels.
In the end, the evening after the growth of oil above $ 37 dollar and Euro fell by 1.5-2 rubles to the lowest levels since the middle of December – below 70 rubles and 76, respectively.
Forecasts and recommendations
While there is no certainty that at the moment is the reversal of the oil market up since last time, two weeks ago, when crude-oil inventories showed an unexpected increase, the oil is then “pushed” down against the data, says Alexey Mikheyev from the Bank “VTB 24”.
“In any case, we believe that reversal of oil will take place before the end of the year, after which the price will go above $ 40 a barrel,” he added, speaking of the factors supporting the ruble.
An additional factor supporting the ruble is taking place these days in the tax period in Russia, said Dmitry Gurkovsky from RoboForex.
“However, we should not overestimate its strength: at the end of the year it is unlikely that the ruble will find forces for a serious recovery, especially because the pressures have not disappeared, just temporarily put on the backburner”, he added.
The strengthening of the domestic currency due to both a slight increase in oil prices and lack of demand for foreign currency liquidity, including, due to the fact that the repayment of the foreign debt at the end of the year the main players are prepared long before December, said Yuri Kravchenko from IK “Veles Capital”.