Increased volatility in the Russian currency is possible on the eve of the New Year holiday. In an interview with RIAMO on this subject reported CFA, Director of the Financial Markets Operations Department of the Russian Standard Bank Maxim Tymoshenko. According to him, exporters’ preparation for tax payments serves as a support for the Russian currency. At the same time, with the start of the tourist season, foreign exchange demand traditionally increases, limiting the strengthening of the ruble.
“In a shallow market on the eve of the New Year holiday, more or less significant transactions in terms of volume can move the market quite noticeably. However, the Russian currency will generally continue to trend towards the level of 90 rubles per dollar, despite short-term fluctuations,” Tymoshenko said.
He added that the increase in oil prices was replaced by a decrease in hydrocarbon costs, which created volatility in the ruble.
Euro exchange rate on December 25 got up It is above the 102 ruble level during morning trading on the Moscow Stock Exchange. According to RIA Novosti, the euro was last traded at this level on October 20.
As of 11:13 Moscow time, the value of the euro reached 102.11 rubles (+0.36%). As of 11:16, the European exchange rate dropped to 101.99 rubles. At the same time, the value of the dollar increased slightly to 92.07 rubles (+0.07%) and the yuan to 12,841 rubles (+0.02%).
Previous Analyst warned about the possible weakening of the ruble in the second quarter.