04 June 2015, 11:00 / Finance

The dollar exceeded 55 rubles, the euro - 61.9 rubles at the opening of the exchange

The Russian currency reacted to news about Ukraine, the actions of the Central Bank and the decline in oil prices Yulia Petrova

Dollar and euro exchange rates continued to grow / E. Razumny / Vedomosti

The dollar and euro continue to rise in price at the opening of the Moscow Exchange on Thursday, June 4. As of 10.18 Moscow time, the dollar exchange rate exceeded 55 rubles, the euro came close to 62 rubles. By 10.25 Moscow time, the dollar had dropped to 54.95 rubles, the euro had dropped by 25 kopecks. below the reached maximum. Exchange rates of American and European currencies are almost 2 rubles. exceeded the official exchange rate of the Bank of Russia: on June 4, the Central Bank lowered the official dollar exchange rate to 53.06 rubles, and, on the contrary, increased the euro to 59.11 rubles. The regulator estimated the dual-currency basket at RUB 55.78.

Yesterday, June 3, the dollar and euro exceeded their psychological boundaries. Thus, by 13.00 Moscow time on June 3, the dollar exchange rate increased to 53.4 rubles, the euro – to 59.4 rubles. By the end of trading, the ruble exchange rate decreased by 1.5 rubles. to the dollar to 54.28 rubles. and by 2.05 rubles. to the euro – up to 61.04 rubles. The last time the dollar exchange rate exceeded the level of 55 rubles. only on April 7, 2015, and the euro reached 62 rubles. April 6.

Analysts surveyed by Vedomosti linked the weakening of the ruble with the market reaction to news about Ukraine. “The main reason for the depreciation of the ruble is the reaction of investors to news about Ukraine,” said Stanislav Jarushevichyus, head of the trading operations department at ING Bank. He assumes that the funds bought rubles at the rate of 53 rubles/$ and they began to close positions. Investors also began to buy dollars, opening new positions, which had a double negative effect on the ruble exchange rate. Jarushevichyus expects a rate above 55 rubles/$ if the aggravated situation in Ukraine continues.

The ruble gave an answer to the Central Bank

In Donetsk and Marinka, where shelling took place the day before, on Thursday morning the situation is calm, there are no clashes, the Ministry of Defense of the self-proclaimed Donetsk People's Republic told Interfax. The press center of the Ukrainian military operation reported that shelling by the rebels has continued since 18.00 Wednesday without interruption.

Dmitry Postolenko from Capital Management Company linked what was happening on the stock exchange with the actions of the Bank of Russia: “The Central Bank gave a clear signal that it did not want to see the dollar for 50 rubles: it increased the foreign exchange repo rate and began purchasing foreign currency.” From May 13 to June 1, the Central Bank bought $2.681 billion worth of currencies. As the head of the Central Bank, Elvira Nabiullina, said on Thursday morning, risks and crisis phenomena in the economy remain. In its decisions to reduce the key rate, the Bank of Russia takes into account the risks of the coming months associated with the normalization of US monetary policy and oil prices, believing that an accelerated reduction in rates is risky, since inflation expectations are still high, the head of the Central Bank said.

The ruble is also weakening against the backdrop of falling oil prices. At 7.25 Moscow time, July Brent futures fell by 0.11% to $63.73 per barrel. The price of July futures for WTI oil decreased by 0.1% to $59.58 per barrel.