The ruble is in the red because of the UST, but thanks to expensive oil looks better than analogues
MOSCOW, may 17 (Reuters) – the Ruble on Thursday showed a negative trend against the dollar, fueled by long-term highs of yield of the us state Duma, while expensive oil protected it from a deeper fall, and in the evening the oil support became more noticeable, and the Russian currency looks better than its analogues.
“The oil factor successfully compensates for the ruble is still very tense mood around the currencies of developing countries. Risks on them are still shifted towards weakening, which, coupled with uncertainty on the sanctions topic, does not allow the ruble to strengthen more significantly at current oil prices,” Denis Davydov from the Bank of Nordea believes.
By 18.00 Moscow time, the dollar/ruble pair quotes were calculated near the level of 61.84-the ruble is losing 0.2 percent of the Wednesday closing levels. Earlier, the Russian ruble became cheaper to 62,11.
The Euro / ruble pair was near the 72.93 mark by this time, according to the calculations of “tomorrow”, which is close to yesterday’s stock close, and earlier the Euro rose to 73.22.