The dollar and the euro were doomed to failure

25 September 2018, 11:13 | Economy
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The rub is confidently afloat. On the eve of the Russian currency again rose in price relative to the "American" and "European".

This led to the tax period in Russia, which reached its peak, and high oil prices. Following yesterday's results on the Moscow stock exchange, the US dollar dropped in price by 57 kopecks, to 65.83 rubles. The euro fell by 70 cents, falling to a level of 77.37 rubles, according to the data of the trading platform. Today, the victorious procession of the domestic monetary unit will continue. Russian exporters are to pay MET and VAT, which means that they will massively buy rubles in the domestic market, than will support quotations. As for the price of black gold, at the OPEC + summit held last weekend, its participants decided not to succumb to the requirements of US President Donald Trump about raising the level of production and keep production at the same level. This pleased market participants. In recent days, they have been playing on a slide, since they pawned in the cost of raw materials a possible increase in production - both for the purpose of compensating supplies from Iran, and under the pressure of the American president. Experts recall that the cheerfulness of the ruble gave the decision of the financial authorities of the Russian Federation to refuse currency interventions. "Do not forget about the positive decision of the Central Bank of the Russian Federation not to resume operations on the market before the end of this year, which allowed the national currency to grow fully, without looking back at the actions of the regulator," the analyst of the social network for eToro investors Russia and the CIS Mikhail Mashchenko. Finally, another factor that will positively affect the ruble exchange rate is stabilization in the market of developing countries. "If the current positive will remain at the same level, and in the global market there are no grounds for alarms, we can quite see the continued growth to the level of 65.8 rubles per dollar and 77.6 rubles per euro," - says Maschenko. However, the growth of the ruble rate will not be endless. Everything can change already this week. Today, September 25, will be an important meeting of the US Federal Reserve System, which will decide on the future of the American key rate.

Further increase it is dangerous, because because of rising prices, the growth rate of the US economy slows down, the first signs of deflation. Nevertheless, the country's authorities have previously stated that the rate will continue to rise. If it rises again, then demand for US bonds will increase, which means that the dollar will also strengthen. If the events develop according to this scenario, then already from Wednesday we should expect a noticeable weakening of the ruble to the "American".




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