The preponderance of moderate optimism in global markets during yesterday’s trading was reflected in the moderate growth of the Russian currency. The pair has again shifted to the lower boundary of the 63.50-64 rubles/dollar range, which has been spending most of the time in the past three weeks.
The external background at the moment is considered rather neutral for the ruble. The MSCI Emerging Market Currency Index is in the range of 1640-1650 points at the beginning of the week, and oil prices also do not show high volatility. From internal factors, we would like to remind you that, in November, the inflow of currency into the country on the current account will exceed the volume of foreign currency purchases under the budget rule, but November is traditionally marked by a relatively small amount of tax payments to The Russian Federation, and the volume of foreign exchange supply from exporters may be slightly lower than usual.
In the short term, the dollar/rouble pair continues to focus on the range of 63.50-64 rubles/dollar.
Mikhail Poddubsky, Promslinkbank
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.