Growing up at the opening of today’s trading on the Moscow stock exchange approximately on 1,5 roubles us dollar has accelerated its growth. In the afternoon the dollar for the first time since the middle of last week rose above 79 rubles.
The maximum dollar rose on Tuesday to 79,847 RUB on RUB 2,537 above level of closing of the trades on February 1. At the same time, the Euro jumped to 87,079 rubles, RUR 2,821 above the level of the close of trading Monday.
The ruble’s decline accelerated after a new fall in oil prices. In the course of morning trading on the stock exchange ICE futures price for Brent oil for delivery in April 2016 fell to $33,46 per barrel. After midday the price dropped to $32,81.
“Oil is moving down to fairer values, taking into account the ratio of supply and demand. So the pressure on the Russian stock market and the ruble will only increase, possible even a sale one day this week,” says chief analyst at GLOBEXBANK Alexey Balashov.
The Deputy chief of analytical management of Bank “Zenith” Vladimir Evstifeev also does not consider immediate prospects “bright”. According to him, a new impetus to the fall in oil prices can give data on reserves in the USA, to be published this Wednesday.
“The key event will be the publication of the report on the U.S. labor market, which largely depends on the future policy of the fed. A strong report will be on the side of the dollar,” warns analyst at Nordea Bank Dmitry Savchenko.
By 13:25 Moscow time the price of a barrel of Brent on ICE was $32,84, the value of the dollar on the Moscow stock exchange — 79,688 rubles, Euro RUB 86,889
In January 2016, analysts of investment Bank Morgan Stanley lowered its forecast for the ruble exchange rate in 2016. In the review of the Bank notes that to revise the forecast forced the strong dependence of the ruble on the level of oil prices and the recent fall of the last below $30 per barrel.
According to the updated forecast of Morgan Stanley, in January—March 2016 the average value of the dollar in Russia will amount to approximately 82 rubles, and in the last three months of 2016 will reach 87 rubles.