The value of the dollar on the Moscow exchange for the first time in a week and a half fell below 64 rubles In the course of today’s currency trading, the dollar fell to the level 63,98 rubles, 87 kopecks below the closing level of the previous trading session.
Simultaneously, the value of the Euro fell to 72,5975 RUB, at 51,75 kopecks below the closing level on Friday.
Strengthening of ruble happens against the background of rising oil prices. During today’s trading on the stock exchange ICE cost of a barrel of Brent rose to $50.3 dollars, which is 2.3% above yesterday’s closing level. Analysts attribute the rise in oil prices with a decrease in fears of investors about a possible British exit from the EU. The referendum will take place on June 23.
“In our view, with a reduced likelihood of Brexit on the global platform back in optimistic mood, and the oil will be no exception: expect continued growth in the next two days in the area of $51-52 per barrel.”, — the analyst PSB Ekaterina Krylova.
At the same time, an analyst at Nordea Bank Denis Davydov believes that a further rise in oil prices remains in question.
“Speculative data on prices Brexit might add, but still is unlikely to consider an increase above $52-53/bbl. Brent as sustainable. On Friday came the data from the Baker Hughes rig count in the United States: over the past week, the rig count increased by 9 units (337 units). In addition, expected by the end of this month, canadian oil will be able to fully resume production after the fire, along with attempts to normalize the situation in Nigeria, adding to market supply. Short-term Brent will trade in the range of $48-52”, — said Davydov.
The analysts of “VTB Capital” Maxim Korovin and Tatiana Chernyavskaya are referred to as supporting the ruble factors approaching the peak of tax payments and preparation of the Russian corporate sector to pay dividends.
By 11.50 GMT the dollar on the Moscow stock exchange amounted to 64,1025 Euro — 72,7325 RUB.