The ruble during the day fluctuated in a steady advantage, reacting to the attempts of oil prices to settle above $ 31.5 $ per barrel Brent.
MOSCOW, 13 Jan. Dmitry Mayorov. The ruble has been increasing steadily during the day on the background of the attempts of correction of oil above 31.5 per dollar.
Verbal intervention of the officials who came from the Gaidar forum, also supported the ruble.
The dollar calculations “tomorrow” to 14.51 GMT decreased by 0.68 ruble — to 76,38 rubles, the Euro — 0.98 ruble — to 82,67 ruble, follows from the data of the Moscow exchange.
Verbal interventions have helped the ruble
The ruble exchange rate during the day fluctuated in a steady advantage, reacting to the attempts of oil prices to settle above $ 31.5 $ per barrel Brent.
However the reliable correction of the ruble up wouldn’t be so sure (as featured auction Tuesday, when the price of oil was rising and above), if not a verbal intervention of the senior officials who came from the Gaidar forum.
Thus, the head of monetary policy Department the Central Bank of the Russian Federation Igor Dmitriev said about the possibility of tighter monetary policy in case of realization of a risk scenario with oil price in 2016 to $ 35 per barrel. It added superfluous rouble 20 kopecks against the dollar and the Euro.
In addition, the Minister of economic development Alexei Ulyukayev said that there are chances to take the average annual dollar exchange rate in 2016 to 63 rubles, laid down in the basic forecast of the Russian authorities.
Finally, Dmitriev from the Central Bank said that the ruble has shown resistance to the current (weak) dynamics of world oil prices.
In the end, the day the dollar lost more than 50 kopecks, and the Euro — a bit less than 1 ruble to levels of closing of Tuesday.
Support prices for raw materials had published on the eve of the American petroleum Institute data showing that last week oil stocks in the US fell by 3.9 million barrels, said Vladimir Zotov from the Ural Bank of reconstruction and development.
“The improved mood on the currency market occurred due to the decrease in concerns around the threat of further devaluation of the Chinese yuan. However, the incentives are too weak and the prospects for a real reversal of the ruble up yet, which means that the tension on the currency markets will persist”, he added.
If the official statistics of the U.S. Department of energy will indicate a decrease in oil reserves during their growth expectations, it may lead to a rise in oil prices in the second half of the day above $ 32 per barrel, analysts say Dukascopy Bank.
The ruble began a correction after 12 sessions of weakening, quotes pair GBP/USD is targeting the support level 75,80, appreciated Irina Rogova of the Forex Club group of companies. If it is overcome, it will be possible to expect further decline in the district level 74,30, she said.
“Still, a key factor of influence on the Russian currency remains oil prices. The data on oil reserves in the USA can push its price in the district level of 33 dollars. On this background the rouble may need additional support. Although largely this event, the Russian currency will play on Thursday,” said Rogov.