• Analysts reported increased demand for the Russian currency

  • In the last two months there is a high demand among Russians for hard currency due to expectations of devaluation of the ruble. On Wednesday, November 2, analysts write Sberbank CIB Tom Levinson, Iskander Lutsk and Vladimir Zubanov in the review of the foreign exchange market, the available "Ribbon.ru".

    "The population eagerly buys dollars with the depreciation of the dollar below 63 rubles, while exporters preferred to sell dollars at the levels of 63.30 of the ruble and higher," pay attention to the experts. The Russians are beginning to actively buy the currency ahead of the traditional period of weakening and volatility of the ruble, noted in the materials.

    At the same time, flows in the foreign exchange market is balanced, so the exchange rate is kept within a narrow range. According to analysts, November 2, active currency purchases from retail players and the decline in oil prices will push the dollar to a level of 63.9.

    Dollar on the Moscow exchange at 14:40 GMT rose 19 kopecks in comparison with level of closing of the previous session, up to 63,51 ruble, European — 40 cents, to 70,38 of the ruble. Brent crude fell to 47,45 USD per barrel.

    The official Euro exchange rate set by the Central Bank on November 3, is 70,23 rubles (87 cents higher than November 1), the dollar — ruble 63,42 (plus 21 penny).

    26 Oct experts interviewed by "Tape.ru", predicted, that the end of the year the ruble will face weakening against the dollar. The U.S. currency may rise to 65-69 rubles.


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