Friday’s trading on the Russian currency market took place in a calm mode, limited to a fairly narrow range. In the first minutes after the opening, the dollar rose to 63.79 rubles. (11 cop. to Thursday’s closing level). However, as for most of the past week, when moving towards 64 rubles. The U.S. currency began to meet resistance. As a result, the pair adjusted and by the middle of the day was in the area of 63.63 rubles. The dollar held the remaining trades in a rather narrow range and before the end of the main session was no longer beyond the above-mentioned benchmarks, and the end of the working day met near Thursday’s closing levels.
On the currency markets of other emerging markets by the evening there was a similar situation: the Us currency showed only minor changes. However, exceptions were observed in the markets of Turkey and Brazil. In the first case, the dollar added about 0.5% to the evening, while in the second – it decreased by 0.4%.
Russian exporters were finalizing on Friday preparations for the main tax payments, which are to come on Monday, with already today some market participants, apparently, carried out preliminary calculations on taxes. After paying the main volume of payments on Monday, the dollar’s attempts to return to the mark of 64 rubles. can become more successful.
Yuri Kravchenko, Head of Bank And Money Market Analysis at Velez Capital
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