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Business / Finance

Reuters: Ruble becomes cheaper because of expectations of intervention of the Central Bank, killing external positive monitoring of the banking press 09.01.2019 at 08:30

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The Ruble depreciates in the morning, but on his side by the increased oil prices and the demand for EAT-a currency in anticipation of a positive outcome of trade negotiations between SSHI and China.

plays Against accumulated during the new year holidays the real non-speculative demand for the currency, as well as early resumption of foreign currency purchases by the Central Bank.

"entered the game local market participants are playing against the ruble in anticipation of currency interventions of the Central Bank, whereas during the new year holidays, the ruble was bought by non-residents, together with other EM-currencies", — explained the current decline of the ruble dealer major Western Bank.

According to him, now also is disadvantageous to exporters ruble dollar exchange rate for sale of foreign currency earnings.

To 10.45 GMT, the ruble is losing 0.3 percent in the pair dollar/ruble calculations "tomorrow" to desheveya 67,08 per dollar, whereas the day before was achieved a three-week peak of the Russian currency — of 66.74.

Calculations "today" the dollar — near 67,07, with the rate of the CBR on Wednesday — 69,47 of the ruble, and such a difference of interest to sellers of export earnings.

the Euro/ruble settlements "tomorrow" is now near the level 76,902, and the ruble losing almost half a percentage point.

the Central Bank at the December Board of Directors has announced its intention to resume purchases of foreign currency for the Ministry of Finance in the budgetary rules in mid-January, but noting that the decline in oil prices will mean smaller monthly volume of interventions.

Brent crude since the beginning of the year going up by 10%, today — 1,2%, reaching in the morning of Wednesday a three-week high of $59,59 a barrel due to signs that Washington and Beijing may soon settle trade dispute that has hit the global economy.

For this reason, on Wednesday morning growing number of commodity and emerging currencies.

On the background of significant growth of oil since the beginning of the year and demand on it-ruble currency was the leader in the Forex market in the Russian new year holidays.

Vladimir ABRAMOV. Editor Dmitry ANTONOV