The expected ranges of exchange rates for the week are named
This week, the dollar, euro and yuan exchange rates are likely to continue to decline within the ranges of 76.50–82 rubles, 89-94 rubles and 11.15–11.80 rubles, respectively. Spartak Sobolev, head of the Alfa-Forex Investment Strategy Research Department, told Izvestia about this on April 6.
"The main factors supporting the Russian currency are related to the external background — high oil prices allow us to count on an increase in the supply of foreign currency in the second half of April. The Russian Ministry of Finance has postponed the issue of tightening the budget rule, which, coupled with the high rate of the Bank of Russia, retains the interest of market participants in the ruble," the expert emphasized.
On April 4, the Central Bank of the Russian Federation set the exchange rate of the American currency at 79.7 rubles, the European currency at 92.1 rubles, and the Chinese currency at 11.5 rubles. At the same time, according to the Moscow Stock Exchange, on April 6, the yuan is trading at 11.4 rubles.
Prior to that, on March 23, Sobolev reported that the decline in the Russian currency had stopped, reaching peaks from February to March last year. The market won back speculative positions amid expectations of a reduction in the Central Bank's key rate (eased monetary conditions to 15%). The arrival of a large supply of foreign currency before the tax period successfully balances the market, realizing the positive effect of high oil prices.
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