The dollar on the Moscow exchange for the first time since 11 January 2017 rose above 60 rubles On the maximum value of the dollar reached Thursday marks 60,265 RUB, 70.5 kopecks. above the closing level of the previous trading session.
Simultaneously, the Euro on the Moscow stock exchange rose above 64 rubles. At the maximum it has reached 64,24 RUB of 94.25 kopecks. above the closing level of the previous trading session.
During the previous week, the dollar / ruble exchange rate significantly decreased, and in the course of trading on January 17 for the first half of the year fell below 59 rubles, and the Change of the trend occurred against the background of statements of the first Deputy Prime Minister Igor Shuvalov about the possibility of the currency purchase by the Bank of Russia in conditions of higher than previously expected, oil prices.
“Obviously, with today’s oil prices and the decision netrate additional oil and gas revenues, we can confidently talk about the possibility of buying currency in the market”, — said Shuvalov in an interview with Bloomberg.
Chief economist “PF Capital” Evgenie Nadorshin called saying Shuvalov, the determining factor that caused the depreciation.
“The other reason I have not seen. Yesterday, the ruble is almost completely ignored quite a strong drawdown in oil prices. Judging by the news from the beginning, we are dealing with the influx of speculative capital in various ruble-denominated instruments, which allowed the ruble again becoming less dependent on oil prices, and automatically we are faced with the reaction to the statement Shuvalov,” said Nadorshin.
Chief analyst of the Bank Natalia Wasiluk also notes that the foreign exchange market “reacted immediately” in the words of Shuvalov, however, according to her, in the short term, the exit of the Central Bank in the foreign exchange market is unlikely.
“Today’s verbal intervention likely marked the lower boundary for the dollar (about 59-59,5 rubles/$.), to overcome that in the absence of significant improvements in the external and internal conjuncture of currency market participants is unlikely to be resolved. Continue to a sharp weakening of the ruble in response to the statement that we should not wait” — says Wasiluk.
The press service of the Bank said that the regulator does not intend to depart from the regime of a floating exchange rate and considers attempts to control the nominal rate of the ruble ineffective.
“The monthly volume of purchases of foreign currency in the framework of the implementation of the transitional provisions of the budget rules do not exceed the amount of the monthly additional oil and gas revenues from the excess of actual oil prices levels included in the budget”, – said the press service of the Central Bank, optativ that the purchase and sale of currency in the objectives of fiscal policy smoothes the impact of oil on the exchange rate.
After 13:00 Moscow time the dollar and the Euro has stopped growing and even slightly receded from the reached highs. However, the ruble remains in the “red zone”, despite the continued rise in oil prices. In the course of trading on the stock exchange ICE cost of a barrel of Brent on Thursday rose to $54,76, 1.56% above yesterday’s closing level.
By 13:30 Moscow time the dollar on the Moscow stock exchange fell below 60 rubles, reaching 59,91 Euro fell to 63,855 RUB.