In the course of trading on December 20, the low value of the Euro on the Moscow stock exchange fell to 63,8625 RUB, 0.94% below the closing level of the previous trading session. Below 64 rubles, Euro fell for the first time since July 24, 2015, when he was down to 63,421 RUB.
The dollar against the ruble on the Moscow stock exchange on Tuesday declined to 61,53 RUB, 0.67% below level of closing of the previous auction.
Strengthening of ruble happens against the backdrop of rising world oil prices. In the course of trading on the stock exchange ICE cost of a barrel of Brent rose on Tuesday to $55,47, which is 1% above the closing level of the previous trading session.
“The market is already included in the Christmas mode of trading, showing relatively low volatility. Potentially dangerous in the medium term for the oil market is the fact that drilling activity in the United States show some growth. In addition, a stronger dollar is traditionally negative effect on oil prices. Nevertheless, while the price of a barrel remains at a fairly comfortable level, ignoring existing threats,” notes the analyst of Nordea Bank Olga Lapshina.
ING chief economist Dmitry Polevoy believes the murder of the Russian Ambassador in Turkey to the rouble is not affected, and next week the ruble will be able to support the payment of major taxes. According to the expert, in the absence of significant news flow from the Western areas due to the approaching Christmas holidays the position of the ruble is unlikely that will suffer.
“Given the amorphousness of foreign markets, the ruble needs to save the current position in the coming days. By the end of the week, the exporters can become more active in selling currency for tax payments at the beginning of next week. Including the designated position of the Central Bank about the absence of expectations of a sharp strengthening of the ruble 61-63 levels in RUB at the exchange rate of the dollar can stay relevant until the end of the current year”, — said the head of analytical Department of Bank “Zenith” Vladimir Evstifeev.
14:25 Moscow time the price of a barrel of Brent crude on the ICE futures exchange was $55,45, the dollar on the Moscow stock exchange reached $ 61,575 Euro — 63,9125 RUB.