On October 24, the euro rate on the Moscow Stock Exchange fell to 99 rubles for the first time since July 11. Currently the European exchange rate has fallen to 98.87 rubles (-1.69%). This is evidenced by trading data from the Moscow Stock Exchange.
As of 18:47 Moscow time, the rate increased slightly to 98.91 rubles. At the same time, the dollar fell to 93.25 rubles (-1.25%). The Chinese yuan supported its Western counterparts and fell to 12.71 rubles (-1.3%).
As BCS World of Investments strategist Alexander Bakhtin noted, the ruble was gaining support due to the influence of companies preparing to pay value added tax for the 3rd quarter. The expert estimated the amount of VAT for oil workers at ₽700 billion, compared to ₽300 billion in the second quarter. There are also positive expectations about the Central Bank increasing the interest rate of the ruble, it says. Interfax.
According to Andrey Kochetkov from Otkritie Investments, the decree on foreign exchange sales played a triggering role in the strengthening of the ruble in the last week and a half. As stated by the President, this trend may continue until the end of October, with the aim of reducing the dollar exchange rate below 90 rubles. Without this decree, exporters were less active in foreign exchange sales.
Formerly investment strategist given Forecast of the ruble/dollar exchange rate in the near future.