The ruble held out against the dollar and the euro

30 March 2018, 12:40 | Economy
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The Russian currency on the eve dealt a crushing blow to major world currencies. At the end of the day, the "wooden" rose in price by 46 kopecks against the dollar and by 54 kopecks against the euro. As a result, the value of a unit of American currency was 57.26 rubles, the European one - 70.47 rubles. Experts associate so confident behavior of the ruble with the approach of Catholic Easter. All investors already have thoughts on vacation, speculators do not put pressure on the Russian currency, and she can quietly ignore the negative external background. Against the ruble on Thursday, March 29, declining oil prices, the strengthening of the dollar on global exchanges and the statement of British Prime Minister Theresa May on the possible closure of access of European clearing companies to the Russian market.

But the ruble stayed good. In general, currency experts have already begun to sum up the results of the first quarter. Over the past three months, the ruble has fallen quite a bit cheap against the main currencies: 0.22% against the dollar and 2.8% against the euro. The sharpest dynamics in relation to the European currency is caused by the fact that in recent months the central banks of many countries of the world have decided to reduce the share of reserves in US dollars, as they doubt the stability of this currency. Naturally, the "green" as a result began to depreciate, and the euro rose in price.

Unpleasant for the ruble was the geopolitical news. The poisoning of former Colonel GRU Sergei Skripal turned into a major international scandal, which created a negative external background around Russian assets. Therefore, they began to depreciate more quickly, although the expulsion of domestic diplomats from Western countries did not directly affect the economy.

"During the first quarter investors were pleased with the price of black gold. By the end of the period, Brent oil was offered more than $ 70 per barrel, but, alas, this did not affect the ruble, "- says Anna Kokoreva, deputy director of the analytical department of Alpari.

According to her, this was due to the current budgetary rule, according to which all additional revenues from the export of hydrocarbons are transferred to foreign exchange reserves. Therefore, expensive oil does not lead to a significant strengthening of the ruble: "This situation is beneficial to the budget and exporters. The price of oil is high, the ruble is weak, the proceeds of exporters are growing, and the budget deficit is declining ".

Absence of sharp exchange rate jumps is very good for an ordinary consumer.

So the prices for goods and services remain stable. Manufacturers also feel positive: with a stable ruble exchange rate, it is easier for them to plan.

In the next three months, the situation in the foreign exchange market will not change globally. If there are no unforeseen cataclysms, the ruble will stay within the established corridor both in relation to the dollar and against the euro. In the second quarter for $ 1 on average they will give 55-59 rubles, for 1 euro - 68-72.5 rubles.




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