On Thursday, November 21, the ruble ceased doubts and went up. At the close of trading on Thursday, the exchange rate of the US dollar fell by 18pc. (-0.28%), to 63.71 rubles, the euro fell even more, by 25 kop., to 70.45 rubles.

The price of crude oil on Thursday continued to rise and rose by 1.7%, to $62.76 per barrel, in anticipation that the OPEC member countries will extend quotas for reducing oil production until June 2020. Also, the price of oil is positively affected by the upcoming IPO of Saudi Aramco. Today in the morning the price of Brent is adjusted downwards, losing 0.33%.

Global rating agency Moody’s Investor Service on Thursday announced that the outlook for emerging markets ratings had been lowered to “negative” due to an expected slowdown in developing countries in 2020 to 4.5%. According to the agency’s estimates, countries such as China, Russia, Mexico and India are among the risk groups, and they are expected to experience the biggest slowdown. However, the ruble ignored the negative outlook of the rating agency.

Today, at the opening of trading, the dynamics of the ruble exchange rate may be divergent. So far, the forecast for the dollar exchange rate of 63.5-64.5 rubles remains unchanged. and the forecast for the euro at 70-71 rubles.

Natalia Milchakova, deputy head of alpari Information and Analysis Centre