Wednesday, September 20, 2017

How and why central bank strengthened

How and why the central bank strengthened the exchange rate?

Tuesday turned out to be a very
positive for the Russian ruble - to
evening of the dollar and the euro dropped significantly. Mainly to strengthen the ruble
help growing oil quotes and
Central Bank's actions. Yesterday evening a couple
USD / RUB fell
to the level of 62.36, and the pair EUR / RUB
- to 68.3. Traders said,
that the ruble
there is a good chance to strengthen, but not
We can understand what will be the main
driver.


The ruble is still strong
It depends on the movement of oil prices, and
Today, the price of Brent continues
It located in the neighborhood of $ 50 per barrel and whilst unlikely
come from an established range. Yesterday
quotes help message from Brazil,
where since the beginning of the month announced
a nationwide strike. plus,
everything fell slightly in October
OPEC oil - from 31.76 million to 31.64
million barrels per day.


But still very much on
Ruble affected yesterday news that
The Bank of Russia will hold the largest in
six months, withdrawal of liquidity from the banking
system. Thus, according to the weekly operations
REPO Tuesday banks had
back regulator 520 billion rbl., that
previously received a loan. according to the statement
Central Bank, the limit of the weekly
refinancing was reduced to 570 billion
rub. (At least since April 2012).


But there is still one
question for those who are watching the Russian
Market - why can not agree in any way
between a Central Bank and the Ministry of Finance? Minister of Finance
Anton Siluanov goes on to say,
that at current oil prices and up to date
Ruble country's reserve fund dry up
next year, reminding of a possible
devaluation. But that's not the central bank itself
not only helps to weaken
ruble, but on the contrary, it is doing everything it
strengthening. Of course, these actions
can be explained by the fact that if the market
understands that the authorities want to weaken the ruble,
then play against the national currency will be all,
sundry, and to stop this process
It will be very difficult.

On Wednesday morning, the ruble to fall back (oil futures again went down), and to the 11:27 MSK pair USD / RUB was trading at 63.05, and the pair EUR / RUB - at the level of 68.9.



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