Russian Economy News: The euro reached 67 rubles

The euro rose to 67 rubles. The US dollar also continued to grow, reaching 60.58 rubles. Falling oil prices and stock market crisis forced China to update the new Russian currency antirecord.

22:11

In the currency market come complete calm. The dollar exchange rate returned to the level of 60 rubles. The euro traded at the opening. In the European currency today give 66,219 rubles.

19:00

The Russian ruble continues to strengthen. By the end of trading on the Russian stock market, the euro is worth 66.54 rubles. The dollar yield 60,147 rubles. Well, let’s see what will happen at midnight. Foreign exchange and derivatives markets of the Moscow Stock Exchange will be dug further 5 hours.

18:30

traded on the Moscow Stock Exchange changed direction. The dollar began to fall as rapidly growing up a few hours ago. US dollar exchange rate fell to 60,263 rubles. The euro traded below 67 rubles, now for the European currency at the exchange give 66,556 rubles.

18:16

We are now living in the oil at $ 36 per barrel., believe in the Ministry of Finance. “Reducing the last days of exchange rate resulted from the reduction in oil prices and the weakness of other emerging and commodity currencies. Urals oil costs about $ 51 per barrel., While the central bank buys $ 200 million a day. And this is the equivalent of the price of oil at $ 15. That is, in fact, we live in the oil at $ 36 per barrel. The Central Bank may, if desired, to increase this value by suspending purchases, “- said” Gazeta.ru “deputy finance minister Maxim Oreshkin. According to the deputy minister, the ruble will rise when the price of oil will begin to grow, and emerging and commodity currencies strengthened.

17:55

After a sharp rise in the value of the euro and the dollar has gone down. Euro, reaching a level of 67.25 rubles., Fell to 66.83. The dollar has fallen in price by 30 kopecks., With 60.88 rubles. fell to 60.58 rubles.

17:39

And the dollar does not seem to stop. The US currency is already coming to the mark of 61 rubles.

17:44

While on the Moscow stock exchange falls ruble in Moscow is a downpour hail ….

17:26

There is a slight feeling of déjà vu. Last fall, the currency is also slowly but surely added every day one or two of the ruble. Everything ends, that in mid-December, the euro was given 100 rubles.

17:25

The last time the European currency was trading at this level in March 2015.

17:21

The euro stood at 67 rubles.

17:14

dollar also rose, climbing above 60.5 rubles.

17:11

Euro updated daily high, reaching 66.939 rubles.

17:06

Meanwhile, on the Moscow Stock Exchange the dollar after a lull began to rise again, reaching 60.365 rubles. Now give the euro 66.774 rubles.

17.00

The new sharp rise in the currency did not cause panic among the population, and Moscow exchangers no storms . However, correspondents “Gazety.Ru” during a raid on the editorial board of the nearby banks noticed another interesting trend: the number of credit institutions in line at the department were engaged in lending. People either try to take out a loan or try to negotiate with the bank on installment payments.

16:40

According to the Central Bank, 20 July regulator daily bought for $ 200 million to replenish foreign exchange reserves, including 27 of July. The Central Bank resumed the purchase of currency to take advantage of 14 May this year after months of interruption. The volume does not exceed $ 200 million a day.

16:27

Let’s see what lives the Russian derivatives market. Futures on the pair dollar / ruble over the past few days painted a very interesting picture, resembling a roller coaster ride in December 2014. I hope that’s not all have forgotten that while “green” cost about 70 rubles.!?)

15:45

On According to the expert of asset management KIT Finance Broker Vladimir Kapustyansky in the near future the ruble will play several positions and will again trade at 59 rubles. for the US dollar.
“If we talk on the value of the dollar, in the next two weeks the US currency can return to the mark of 59 rubles. If oil prices do not go much lower as well after the US Federal Reserve meeting, which will set guidelines for investors about whether and when to change the monetary policy, most likely will return to the dollar below the level of 60 rubles. At the end of the week scheduled meeting of the Central Bank, which the regulator may decide not to reduce interest rates, which will also support the ruble ».

15:02

The US financial-credit institution Bank of America Merrill Lynch lowered its forecast for oil prices. At the end of the third quarter of the current year forecast futures price of WTI crude oil has been lowered from $ 50 / bbl to $ 45 / barrel, while futures for North Sea Brent, according to analysts of Merrill Lynch, will cost about $ 50 / barrel, instead of the previously projected level $ 54 / barrel, according to the publication Financial Times.

14:50

The situation on the currency market in a conversation with “Gazetoy.Ru “commented the expert” BCS Express “Ivan Kopeikin:

« The decline of the ruble was serious enough. The tax period ends today, additional demand for rubles more will be created, and support for the Russian currency virtually no nowhere. Wait currently strong appreciation of the ruble is not worth it. From a technical point of view, it is not excluded at the rebound ruble oil traded at $ 52.5 per barrel.

The important point is tomorrow’s meeting of the US Federal Reserve. If it is applied to the soft rhetoric (for example, it will focus on inflation and the fact that it is still far from the objectives of the regulator, rather than the unemployment ), it will be possible to see a positive return, the local ruble below $ 60 rubles – up to 58,5-59,5 rubles. In general, the situation is quite negative.

The current output of the Central Bank in the market to support the ruble is unrealistic scenario. This is possible if there is increased volatility of the ruble will go above 65 rubles to the dollar sharp pace, then may begin some conversations and verbal intervention. Wait for the Central Bank to sell the currency is not worth it. The only thing he can do – is to stop buying to replenish international reserves for some time ».

14:08

The situation in the foreign exchange auctions after a morning jump somewhat stabilized. Local maximum was recorded in the first half of the day at 60.47 rub. / Dollar. As at 14.05 MSK US currency traded at 60.096 rubles., For the euro was 66.33 rubles., Which is also below the local maximum in 66.887 rubles., Made in the first two hours of the trading session.

13:55

The negative impact on the ruble have and investors’ concerns about China’s economic prospects. July 27 the Chinese stock market fell: the exchange Shanghai Composite Index fell by 8.5%, which was a record drop in the last eight years. The main reason for the fall was the fear of investors of failure of the Chinese authorities on the state support of the market. Chinese exchanges pulled down and other emerging markets – including Russia.

13:50

The exchangers Moscow hype is not observed, the correspondent of “Gazety.Ru” bypassed several exchange points. The discrepancy between the dollar, the Central Bank set for Wednesday, and the cost of selling dollars in exchange, on average kept within 0.5-1 rubles.

13:35

Another factor that pushes the ruble is waiting for the US Fed rate hike. Tomorrow is scheduled a meeting of the Operations Committee on the Federal Open Market. Market participants expect that the outcome of the meeting will be to make a statement, signaling the imminent change in monetary policy. Investors believe that this year the US Federal Reserve will raise interest rates. These expectations contribute to the strengthening of the dollar, weakening oil prices, Brent and outflow of funds from riskier emerging markets.

13:25

Main cause of the weakening of the ruble was the situation on the world oil market. Oil prices continue to decline: one week in the price of oil has lost more than 6.5%. As at 13.20 MSK, the cost of the August futures for Brent crude fell below $ 53 a barrel to $ 52.71. Such a low level of North Sea oil did not show for almost six months, from February. The price of Russian Urals oil is tied to the quotations of oil Brent.

13:11

Hello, dear readers! We start our online broadcast on the situation on the currency market in Russia. Today, a single trading session (UTS) on the Moscow stock exchange rate of the dollar against the ruble “tomorrow” has exceeded the psychological mark of 60 rubles. The official rate of the dollar against the ruble, set by the Central Bank of Russia on Wednesday rose by 1.44 rubles., To 60.2231 rubles.

The official rate of the euro against the ruble on Wednesday jumped to 1.54 rubles., 66 , 6248 rubles. Dual currency basket value increased compared with the index on Tuesday at 1.49 rubles., Amounting to 63.1 rubles.