Experts believe that the market rubles until the pandemic oil March

Experts believe that the market rubles until the pandemic oil March According to the head of the analysis department of the Banking and Money Market Department. ,-Means expert comment. The pressure on the ruble will remain until the price of oil exceeds the level of US$46 per barrel. " ,-Experts think. In order to reduce market volatility, the Russian Federation sold 5.9 billion rubles worth of foreign currency on July 30. In general, since March 11, foreign currency sales on the domestic market have exceeded 1 trillion rubles. Let us also remind that since the beginning of this year, the Russian national currency has depreciated significantly against the US dollar and the euro. Due to the rapid spread of the -20 coronavirus pandemic and its impact on the global economy, as well as the plunge in oil prices, the general panic in the financial markets put the ruble under tremendous pressure. After the OPEC+ agreement collapsed a day ago, the alliance countries were unable to reach a consensus on further reducing oil production or extending the agreement period (from April 1, 2021). Later, on March 9, 2021, this happened in the financial and oil markets. On March 20, there was another oil price crash in the market-since February 2017, the Russian national currency during the Moscow Exchange trading period was updated to the US dollar and the euro at the time (at the time)-82 and respectively 89 rubles. At the same time, the real exchange rate of the ruble against the U.S. dollar rose by 5.2% during this period and against the euro by 1.7%. However, in the first six months of this year, the real effective exchange rate of the ruble fell by 5%. Read exclusive news and articles on our Telegram channel.

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