Monday, January 11, 2016

The exchange rate of the euro rose by more than 3 rubles. – RBC

The euro on the Moscow Stock Exchange at the opening of trading on January 11 immediately jumped to 3 rubles. As of 10:10 MSK it costs 83.97 rubles. This figure was a record since December 2014.

The US currency also increased significantly. As of 10:09 MSK the dollar fluctuated around the mark of 74.46 rubles.

The growth rates comes amid a continuing fall in oil prices and the collapse of the Chinese market. With the start of trading on January 11 February futures price of Brent crude oil fell by 1.5%, to $ 33.04 a barrel.

«During holidays liquidity in the Russian market was low due to the fact that many were on holiday. Now the Russian market regains drop in oil prices that we have witnessed during the holidays, and a decrease in the indices in the world markets “, – said the chief expert p the Center for Economic Forecasting « Gazprombank » Yegor Susin. According to him, during the day you can expect some stabilization in the Russian market. “As for the recovery, it is possible only in the case of stabilizing oil prices and the start of recovery. In turn, I would not exclude such a scenario, because the drop in oil prices was an emotional reaction to the fall in the Chinese stock market at 6.9%, are done in the holidays “- he said.

The Fall of Russian indices and a sharp weakening of the ruble against the euro and the dollar due to the fact that people are back from vacation and on the background of negative news coming holidays with world markets, intensified liquidity with the sign “-“, said the managing Director of Arbat Capital, Alexander Orlov . « In my opinion, the fall has already played in the Russian market, and you can even expect some correction,” – he says.

The analyst Nordea Bank Dmitry Savchenko said that the fall the ruble was expected, given that before the oil has updated its historical maximum. The cost of a barrel of Brent crude on Monday went up to around $ 33. “The market lays a further decline in oil prices to $ 30 or less” – notes the analyst. He believes that now there are no obstacles to the further weakening of the ruble. “I think that today we will see the dollar 76-76,5 rubles. If oil prices continue to fall, in the short term can be achieved the level of 78 rubles. the dollar “, – said Savchenko.

According to analysts, the situation for the Russian currency worsens the fact that after the collapse of the US market investors are very low appetite for risk.

 

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