Wednesday , June 23 2021

The official dollar exchange rate increased by 2 kopecks, and the euro – by 42

The Central Bank set the official exchange rates on November 20. The dollar increased by 1.5 kopecks, amounting to 66.0081 rubles (65.9931 rubles from November 17). The euro exchange rate increased by 41.96 kopecks to 75.3118 rubles (74.9022 rubles from November 17).

Last week, the Russian currency significantly strengthened its position in the main currency pairs, but it is not worth waiting for such a trend in the future, experts say.

The winning march of the Russian currency is interrupted, says FxPro analyst Alexander Kuptsikevich. In his opinion, this is primarily due to the players' desire to repair some of the items after a quick move – and signals the beginning of a new wave of falling ruble.

However, in the global currency market, after a 16-month maximum, the dollar exchange rate is reversed, emphasizes the expert. "This is able to satisfy the demand for the ruble, which is already fed up with the potential for a new offensive." The potential target for bulls may be the level of the ruble below Friday's close – comments the analyst.

According to him, for a pair of USD / RUB, a strong level of support looks like a sign in the vicinity of 65, from which the pair began to grow in October. A pair of local EUR / RUB minima are close to 74.3, he said.

"It is likely that after the Friday's break the ruble will continue its short-term rebound, although this will not change the outlook for further weakening of the domestic currency by the end of the year," concludes Kuptschievich.

Considering that the risk of sanctions reduced their severity, the ruble will focus more on the dynamics of currencies in emerging markets and oil prices, analysts of the Nordea bank Tatyana Evdokimova and Denis Davydova. The tax-paying factor will continue to be a support, they add.

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