the Main factors that will determine the ruble next week, still will be the oil prices and external background.
the Volatility of oil is now extremely high, while the price of a barrel remains relatively low for the possible strengthening of the ruble. Low oil prices are putting serious pressure on the Russian currency, emphasizes the head of strategic analysis and modeling “SMP Bank” Vladimir Fedotov.
the Ruble strengthened after the rise in oil prices by 46 percent
World markets are also extremely volatile, and despite a slight rebound are still in bearish phase. Provide support for the rouble the Bank of Russia to sell foreign currency in the framework of fiscal rules, points out the analyst.
Given that the ruble on a par with the Mexican peso weakened more than other currencies of developing countries, and the ruble rates remain high even with the raised inflationary risks, one should not expect a massive outflow of non-residents of the OFZ, which could cause further weakening of the ruble, expects the chief of analytical management of Bank “St.-Petersburg” Andrey Kadulin.
generally in conditions of low oil prices, the spread of coronavirus and the onset of recession, the ruble will be under pressure, the course of the next week will fluctuate in the range of 77 to 82 rubles per dollar, predicts Fedotov.
