The news background concerning the process of trade settlement between the United States and China remains quite contradictory, which clearly does not contribute to the appetite of investors for risk in emerging markets. By Friday evening, the dollar was strengthening on most EM currency markets. In particular, the currencies of Turkey, South Africa, India and Brazil lost about 0.2-0.9%.

The ruble was down 0.5 percent towards the end of the day, under pressure from the oil market, where the value of the brand was losing almost 2%. However, the main losses overtook the domestic currency in the first half of the trading day. Thus, after 12:00 the pair overcame the mark of 63.9 rubles. against Thursday’s close just above $63.5. In the future, the trades took place with fairly restrained activity of the participants and the U.S. currency never made any attempt to get closer to 64 rubles, although by the evening it was still “on duty” near the levels reached during the day.

Yuri Kravchenko, Head of Bank And Money Market Analysis at Velez Capital

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