The ruble lost all its fortification

After Friday trading, the dollar began to cost 32.03 rubles. (+28 kopecks), and the euro - 40.05 rubles. (+11 cop.). The ruble exchange rate, which has been strengthened from the end of last year, fell to the level of the beginning of the year and lost all its fortification, the newspaper Vedomosti writes in the article “Ruble in the crisis” (No. 96, dated May 28). The revenue of exporters for taxes was sold before the May holidays, thinking that the ruble was already very sagging.

Investors are frightened by the problems of Europe and the possible exit of Greece from the euro zone, analysts explain. The movement of old faces to the Kremlin played a role, which disappointed investors.

Both the dollar and the euro are depreciated, the price of oil is falling, investors are afraid that the crisis will grow, and withdraw money from developing markets. Until last week, the ruble was cheaper at the same time as oil, and then the factor of speculative strategies against the ruble was added: investors began to change it to the currencies of other developing markets.

“The reduction in the ruble was not as strong as in other currencies, he was surprisingly long kept thanks to strong oil and the game against other currencies, now the reverse process was going on,” Dmitry Novoselov, vice president of the Nordea Novoselov Bank financial markets.