The decline in world oil prices and investor flight from risky assets provoke new planned speculative attacks on the ruble.
The weighted average dollar exchange rate on a single trading session (UTS) at 11:30 GMT tomorrow calculations by which the Central Bank set the official exchange rate rose by 82.11 kopecks on MICEX - up to 33.7384 rubles, according to data exchange. On the eve of the average rate stood at 32.9173 rubles per dollar.
- The dollar fell to a penny at the opening of trading the MICEX June 1
- Dvorkovich, "Growth of the dollar so far can not be afraid"
Reduction of the ruble is now happening to a greater extent due to mistrust of risky asset class against the debt problems of the eurozone. Add to this cocktail of oil fell and we will see that the ruble is virtually no support factors. It is significant that the Russian ruble and the euro is growing powerfully, despite all the woes in Europe and the fall of the single currency to the dollar to 2-year lows. The euro exchange rate against the ruble rose to 11:30 GMT on 20 cents - up to 41.65 rubles.
At the same time, the Bank of Russia does not consider the volatility of the ruble serious, did not change the parameters of foreign exchange intervention, told reporters today the Bank of Russia Deputy Chairman Sergei Shvetsov. "The volatility of the ruble within our corridor is not serious, it suits us ... The mechanism of foreign exchange intervention, we have not changed: $ 500 million - 5 cents" - said Shvetsov, adding that the corridor boundaries established by the Central Bank of the currency basket are on the same level 32 ,15-38, 15 rubles.
Foreign exchange intervention by the Bank of Russia committed in excess of the target volume are performed in order to smooth exchange rate fluctuations are not caused by the action of the fundamental economic factors. When reaching the maximum level of the Central Bank "accumulated" intervention ($ 500 million) shift of the boundaries is crawling band against the currency basket by 5 cents. As an operational guideline of exchange rate policy of the Central Bank uses the bi-currency basket (0.45 euros and 0.55 dollars). The range of valid values specified floating operating interval (width of 6 rubles), whose boundaries are adjusted depending on the amount committed by the Central Bank foreign exchange intervention. As of 13:00 GMT Friday, the value of the currency basket was 37.42 rubles.
Futures for Brent crude oil continues to slide down this afternoon, she sank below the psychologically important mark of $ 100 per barrel.
The weighted average dollar exchange rate on a single trading session (UTS) at 11:30 GMT tomorrow calculations by which the Central Bank set the official exchange rate rose by 82.11 kopecks on MICEX - up to 33.7384 rubles, according to data exchange. On the eve of the average rate stood at 32.9173 rubles per dollar.
- The dollar fell to a penny at the opening of trading the MICEX June 1
- Dvorkovich, "Growth of the dollar so far can not be afraid"
Reduction of the ruble is now happening to a greater extent due to mistrust of risky asset class against the debt problems of the eurozone. Add to this cocktail of oil fell and we will see that the ruble is virtually no support factors. It is significant that the Russian ruble and the euro is growing powerfully, despite all the woes in Europe and the fall of the single currency to the dollar to 2-year lows. The euro exchange rate against the ruble rose to 11:30 GMT on 20 cents - up to 41.65 rubles.
At the same time, the Bank of Russia does not consider the volatility of the ruble serious, did not change the parameters of foreign exchange intervention, told reporters today the Bank of Russia Deputy Chairman Sergei Shvetsov. "The volatility of the ruble within our corridor is not serious, it suits us ... The mechanism of foreign exchange intervention, we have not changed: $ 500 million - 5 cents" - said Shvetsov, adding that the corridor boundaries established by the Central Bank of the currency basket are on the same level 32 ,15-38, 15 rubles.
Foreign exchange intervention by the Bank of Russia committed in excess of the target volume are performed in order to smooth exchange rate fluctuations are not caused by the action of the fundamental economic factors. When reaching the maximum level of the Central Bank "accumulated" intervention ($ 500 million) shift of the boundaries is crawling band against the currency basket by 5 cents. As an operational guideline of exchange rate policy of the Central Bank uses the bi-currency basket (0.45 euros and 0.55 dollars). The range of valid values specified floating operating interval (width of 6 rubles), whose boundaries are adjusted depending on the amount committed by the Central Bank foreign exchange intervention. As of 13:00 GMT Friday, the value of the currency basket was 37.42 rubles.
Futures for Brent crude oil continues to slide down this afternoon, she sank below the psychologically important mark of $ 100 per barrel.
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