Monday, January 25, 2016

The dollar rose to 80 rubles – Sight

The dollar exchange rate against the ruble on the Moscow stock exchange has increased in comparison with the previous closing trading at 2.05 rubles and amounted to 80.07 rubles, surpassing the mark of 80 rubles, the euro rose by 2.41 rubles to 86.65 rubles .

The ruble began to fall in price after the oil, which has lost half of Friday’s growth. “In Focus – the dynamics of oil prices, as well as future events of this week. After growing by 10% on Friday and the positive dynamics of oil prices Monday morning could not keep their positions, “- says the analyst” BCS Express “Oksana Cholodenko, reports Tass.

The largest global exporters and consumers of oil, as well as countries that are its largest proven reserves

futures price for Brent crude oil for delivery in March 2016 to ICE exchange in London fell today by 2.95% to 31.23 dollars per barrel. In the course of trading on January 22 Brent price rose above $ 32 per barrel.

The increased volatility on the Russian foreign exchange market may continue this week, given the large number of important events in the US on Wednesday, January 27, its meeting will hold the Fed, and in Russia meeting at the rate of the Central Bank will be held on Friday, January 29 marks chief economist for Russia and CIS ING Bank Dmitry Polevoy.

«Given that expectations for Fed rate YTD markedly calmed down (the market does not expect them to change to September), and the Central Bank is likely to leave rates unchanged, in the presence of support from the oil quotes the ruble could feel confident, but high volatility will continue, “- says an economist.

The official rate of the euro against the ruble, set by the Bank of Russia on Tuesday, fell by 3.07 rubles – up to 84.1603 rubles, the dollar dropped to 2.77 rubles, amounting to 77.7965 rubles.

The cost of futures for Brent crude for delivery in March 2016 on the ICE exchange in London on Monday afternoon fell by 4.2% to 30.8 dollars per barrel.

Earlier on Monday, the Minister of Economic Development of Russia Alexei Ulyukayev said that world oil prices have the potential recovery.

The price of oil began to rise last week from Thursday evening and reached 32 dollars. Following them, and strengthened the ruble. Introduced and more optimistic forecasts for oil prices. For example, Norway’s largest bank DNB ASA predicts the end of the downward trend in the oil market and expects that the second half of the price of Brent crude oil will rise to 65 dollars per barrel.

Meanwhile, the head of the Bank of Russia Elvira Nabiullina said that the dependence of the Russian economy and the ruble exchange rate on oil prices decline.

The head of Sberbank German Gref said that the average price of oil will not fall below $ 30 a barrel, saying he did not expect long-term preservation of high volatility in the oil market.


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