Ruble hits new record lows under the pressure of sanctions

At the opening of trading on the Moscow exchange on Thursday, the dollar showed against the ruble new maximum values since the beginning of this year. The Russian national currency is sliding down in line with the increase in currency purchases by the Bank of Russia, as well as the risk of new us sanctions.
In the morning, the us currency reached the level of 68.66 rubles, to which the last time it rose in April 2016. Its course is strengthened after the publication of the minutes of the Federal reserve meeting on the intention to raise the base rate in September. At the same time, according to 11: 59 Moscow time, the dollar strengthened even more, reaching the level of 68.75 rubles.
The ICE indicator, which tracks the dynamics of the dollar against the six major world currencies, rose on Thursday by 0.25%, to 95.24 points.
The European currency also updated the highs against the ruble, but failed to overtake the record values since the beginning of the year. At the peak price was 79,39 rubles per one Euro, citing the high in April. At the time of writing, the Euro was trading at a price of 79.34 rubles.
The Russian currency continues to decline amid the General weakening of the currencies of developing countries, active purchases of currency by the Bank of Russia and the risks of expanding us sanctions, explains financial analyst of Alpari group Roman Tkachuk. Given these factors, the dollar/ruble may soon rise to 69.00-70.00. In this case, the Ministry of Finance may suspend the purchase of currency, predicts the expert.