The Russian currency continues to move downward. The lows are updated almost every day, and psychological levels make their way more often than we would like.
Yesterday was no exception. Pair USDRUB ended the trading session higher by 1.10% to 66 rubles 60 kopecks, EURRUB jumped more than 2% to 74 rubles 11 kopecks. Today we have a chance to observe the persistence of negative dynamics.
The main reason for the sales on the Russian currency market of the newly presented oil prices. If yesterday quotes Brent was kept just below $ 49 per barrel, per barrel this morning with less than $ 47. Quotes black gold reacted negatively to the increase of oil reserves in the USA, recorded at the end of last week. Contrary to expectations, their volume is not decreased, but increased, and the impressive 2,62 million barrels. This was more than enough to trigger a new wave of the fall which pulled on the bottom and the Russian currency.
We continue to believe that the immediate goal for the dollar on the Russian market will become the region 67 rubles. Achieved it can be in the coming days, if oil quotations will not be able to recover from a recent stroke.
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