On Thursday, November 14, the ruble gathered forces and dealt a sensitive blow to both the dollar and the euro, which had to retreat away. At the close of trading on Thursday, the exchange rate of the US dollar fell by 34pc. (-0.53%), to 64.01 rubles, the euro fell, slightly less, but still sensitively, by 27pc. (-0.38%), up 70.51 rubles

Russian President Vladimir Putin during the BRICS summit in Brazil proposed to use the Russian ruble inside the BRICS as an additional currency. Putin noted that the ruble is freely converted into any world currency. The Russian president also proposed to increase the share of financing of the NEW BRICS Development Bank in national currencies to avoid both financial and political risks. For the ruble, the statement of the Russian president was very positive and very useful.

The price of oil blended by 0.5% on Thursday to $61.78 per barrel on the back of an unexpected increase in commercial oil and gasoline reserves in the United States, exceeding analysts’ forecasts. However, this news this morning has already been played out, the price of Brent is rising by 0.18%.

Today, at the opening of trading, the ruble can continue strengthening. We lower our forecasts for the dollar to 63.5-64.5 rubles. and at the euro rate – up to 70-71.2 rubles.

Natalia Milchakova, Deputy Director of Alpari’s Analytical Department