The ruble is adjusted up from four-month lows

The ruble is adjusted up from four-month lows


The dollar calculations “tomorrow” has decreased on 0,58 ruble – to 70,65 rubles, Euro – to 1.02 ruble to 77,04 ruble, follows from the data of the Moscow exchange.

MOSCOW, 23 Dec. Dmitry Mayorov. The ruble on Wednesday afternoon steadily strengthened within the correction, starting from four-month lows due to the growth of oil in the area is 37 dollars per barrel of Brent.

The December tax period in the Russian Federation also continues to support the ruble.

The dollar calculations “tomorrow” to 16.52 GMT decreased by 0.58 ruble — to 70,65 rubles, Euro — to 1.02 ruble to 77,04 ruble, follows from the data of the Moscow exchange.

The ruble has regained

Courses of the ruble against the dollar and the Euro on Wednesday afternoon grew steadily, adjusting up from the minimum levels for months.

Support to rouble has the price of oil, is also trying to push up from the lowest level since 2004 in the area of 36 dollars per barrel of Brent.

However, a full correction prevent waiting the release of weekly data the U.S. Department of energy, commercial oil reserves in the country. Analysts believe that for the week ended 18 December, this figure rose distributed among 1.083 million barrels — up to 492,133 million barrels.

Support the ruble along with oil provides the tax period in Russia, during which traditionally increases the demand for rubles transferred to the budget of mandatory payments.

As a result, the dollar and the Euro on Tuesday afternoon lost in the price 0,5-1 rouble. Weak dynamics of the Euro on the Forex translates into a larger decline in the European currency – in the area is 77 rubles, for the first time this week.

Forecasts and recommendations

Volatility and volume in financial markets continues to decline in anticipation of the Christmas and new year holidays, said the expert of “BCS Express” Ivan Kopeikin.

“By the end of this year the strong exchange rate movements we won’t have to see. Buy the U.S. currency near its 70 level look still a bit more preferable,” said he.

The economic expansion of U.S. sanctions against Russia will not be an unpleasant news for the local currency market, says the analyst of ROSBANK.

“We believe that the direct effect of sanctions on the Russian economy and the ruble exchange rate will be minimal, however, may spoil the political background in the coming months in view of the apparent impasse in resolving the Ukrainian crisis”, — is spoken in the Bank.