Analyst explains the weakening of the dollar 17:07

On the Moscow Stock Exchange, the dollar exchange rate fell to 91.8 rubles, losing more than a ruble at its closing level on Friday, amid increased foreign exchange sales by Russian exporters. At the end of each month this always leads to a strengthening of the ruble exchange rate. Anatoly Trifonov, analyst at BCS World of Investments, told socialbites.ca.

“With the introduction of standards on the compulsory sale of foreign currency, seasonality became less pronounced, that is, sales of foreign currency were more evenly distributed throughout the month. But the foreign exchange market remains weak enough for retail investors to react sharply to large transactions,” Trifonov added.

He explained that last week such transactions caused a sharp short-term weakening of the ruble, and this week the opposite trend was observed. Trifonov believes that the dollar will continue to trade near current values ​​in the 91-93 ruble corridor this week.

According to data from the Moscow Stock Exchange at 16:55 Moscow time on February 26, the cost of the dollar is 92 rubles (minus 85 kopecks relative to the closing closing level on Friday). The minimum value of the American currency at auction on Monday was 91.8 rubles, and the maximum value was 93.2 rubles.

Formerly investment strategist named The period when the ruble exchange rate began to strengthen.

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Source: Gazeta

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