The dollar has recovered

The US currency reached a weekly high

Yesterday, dollar quotes against the ruble reached their highest level since mid-December. The official exchange rate set by the Central Bank increased by 0.3% - from 28.66 to 28.76 rubles. The total trading volume on the MICEX amounted to $2.9 billion. The American currency also rose in price at exchange offices by 5-10 kopecks: yesterday evening cash dollars could be sold for 28.7 rubles, and bought for 28.9 rubles. At the same time, euro quotations decreased by 0.4%, from 34.35 to 34.19 rubles. The euro currency also fell in price at exchange offices by about 15-20 kopecks.

The fact that the dollar will rise in price in Russia on Wednesday became clear on Tuesday evening, when the euro fell sharply against the American currency after the release of statistical data for the United States, according to which an increase in real estate construction is expected. The improving situation in this sector of the American economy allowed traders to play for a rise in the dollar. Let us note that on the same day statistical data for the countries of the European Union were also released, but bidders did not pay much attention to them.

The rise in price of the dollar on the Forex market on Tuesday boomeranged on the Russian foreign exchange market. The bulls' optimistic mood was not affected by the large sales of export proceeds that took place yesterday morning: at the beginning of trading, the dollar exchange rate fell slightly, but then began to grow confidently. However, traders point to the locality of the news from the United States, not excluding the possibility that by the end of the week the euro may regain lost ground.

While closely monitoring the development of relationships between world currencies on Forex, trading participants do not forget about events in the domestic market. Interest rates on interbank loans are now 5-6% per annum. Traders do not exclude that in the last days of December the demand for rubles may increase, but they expect that this will not have a significant impact on the exchange rate. On the eve of the long Christmas and New Year holidays, activity on the Forex market will continue to decline. It is quite possible that by the end of the year the euro will trade against the dollar in the current range of 1.19--1.2. In Russia, quotations of the American currency will apparently remain within the range of 28.6-28.9 rubles. More significant changes, apparently, can be expected next year. Traders are counting on the emergence of global news, primarily related to a clearer interest rate policy in both the US and the eurozone.

Georgy PANOV