Output on Western stock exchanges due to the Christmas holidays led to the lack of factors to exchange rate dynamics in Russia. The dollar calculations “tomorrow” increased to 70,72 of the rouble, the Euro rate to the ruble 77,59.
MOSCOW, 25 Dec. Dmitry Mayorov. The ruble against the dollar and the Euro fluctuated in the evening in the red amid low market activity.
Output on Western stock exchanges due to the Christmas holidays led to the absence of important factors for exchange rate dynamics in Russia.
The dollar calculations “tomorrow” to 18.25 Moscow time has risen on 0,48 ruble — to 70,72 of the rouble, the Euro rate by 0.59 ruble to 77,59 ruble, follows from the data of the Moscow exchange.
The ruble has sagged in the absence of signals
The ruble against the dollar and the Euro during the session on Friday wavered mostly below levels of the previous close.
The lack of trading on Western stock exchanges has led to low market activity. At the auctions by calculations “tomorrow” plucked up deals total of 1.5 billion dollars, more than twice below the average of recent days.
The lack of trading of oil futures has deprived players of the domestic foreign exchange market the main target for the exchange rate fluctuations.
As a result, the preferred bidders before the weekend to build up long positions on the major reserve currencies just in case.
This led to the growth of the dollar and the Euro for about 50 cents, or about 0.7%. The Brent crude oil price (the closing price of Thursday at the level of 37.8 per dollar) rose to almost 2.7 thousand ruble recently less than 2.6 thousand.
Forecasts and recommendations
Ruble enters the new year weakened, but not defeated, says Konstantin Orlov of REU them. G. V. Plekhanov.
“Exchange rate dynamics of the past week shows that the decline in business activity, the rouble has potential to strengthen. Pressure on the ruble is largely a reflection of insecurity and leads to excessive weakening. The level of 70-71% and we should celebrate the New year and its to start. The lack of economic news is a good news for the ruble,” he added.
The ruble in the coming week will remain under influence of changes in oil prices, said Irina Rogova of the Forex Club group of companies.
“So with the growth of oil USD/USD may attempt reduction in the district level 68,7 with a further purpose on a mark of 68.2. Up quotes of Brent in the coming week can push the data from the energy information Agency of the U.S. commercial stocks. In addition, data on business activity index in industrial sector of the Russian Federation for December can add optimism regarding the economy and the ruble,” said Rogov.
