On Friday, there was no uniform dynamics on the currency markets of emerging markets, however, currencies such as the Russian ruble, the Brazilian real and the South African rand showed more than confident strengthening. The weakening of the dollar against these currencies EM contributed mainly to weaker than expected dynamics of industrial production in the US in January. However, a little later, the position of the dollar began to recover after good data on the consumer sector in the United States.

The ruble at the end of the working day added about 0.2% to the dollar, including following the growth of oil prices by 1.7%. During the day, the domestic currency made several attempts to test the 63.4 dollar mark, including immediately after the release of weak statistics on industrial production in the United States. Toward evening, the pair was again close to the indicated level, however, statistics on the consumer sector again deprived the ruble of hopes for passing 63.4 paired with the dollar.

Yuri Kravchenko, Head of Banking and Money Market Analysis, Veles Capital Investment Company

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