Stock market quotes, forex, financial news, forex tools –

The two-week minimum of the ruble has been updated despite the remaining taxes

 Breaking News
  • Global demand for oil grows The International Energy Agency (IEA) has published a very interesting study. So, in the next five years, global oil demand will grow about 1 million b/d every year. This means...
  • Tesla to build its fourth factory Elon Musk said that the company was planning to build the first plant in Europe. The German capital has been chosen for this purpose. It will be the fourth plant...
  • Facebook Pay is new payment system of famous social network The well-known company Facebook has announced the launch of its own electronic payment system Facebook Pay. Through the company’s official blog, we have found out that the service will operate...
  • Amazon to open a new supermarket chain in the States Amazon, the largest US online retailer, already owns several supermarket chains. The first of them called Whole Foods was purchased in 2017 and cost $ 13.7 billion. The chain specializes...
  • Energy Market News Today, at 8 a.m. Moscow time, Brent crude futures rose $ 0.14 (or 0.23%) – to $ 62.32 per barrel. We recall that yesterday the asset price lost 0.53% ($...

The two-week minimum of the ruble has been updated despite the remaining taxes

The two-week minimum of the ruble has been updated despite the remaining taxes
July 22
10:30 2016

The ruble is falling in price at the beginning of the trade on Friday. The two-week minimum rate of the ruble has been updated against the dollar because of the current low price of oil. One more reason for updating is the discontent of the significant strengthening of the Russian currency in summer, which was earlier expressed by the executive power of the Russian Federation.

At the same time, the cash flow for the payment of the major taxes and dividends is still a support as before. However, exporters could prudently sell significant amounts of the revenue in advance, accumulating the ruble liquidity. The US dollar has been established at around 64.70 for the first time since 7 July. By the beginning of the day the currency pair dollar / ruble, with calculations for “tomorrow”, was being traded within 64.71on the Moscow stock exchange. It was 0.5 percent above the closing of the trading session on Thursday, by results of which the dollar grew in value by 1 % against the ruble.

By that time the euro, with calculations for “tomorrow”, had been fixed at the mark of 71.30 rubles. It was 0.4 percent above the closing session yesterday. At the end of the week the officials in the Kremlin had been carrying out the verbal intervention during three days in a row. The discussion was directed against the ruble strengthening. They required actions from the Central Bank of the Russian Federation and the Government.

At the same time oil was at a two-month minimum. This has forced the market to reconsider its short currency positioning, because of which the ruble reached the highs of 2016 in the middle of this month. At the beginning of the day Brent crude oil cost $ 45.96 per barrel. It was 0.5 percent lower than Thursday’s closing indicators. By results of that closing the brand has lost more than two percent.

Russia’s new tax period started last Friday. Its peak is expected on the nearest Monday, when the payment of VAT, excise taxes and MET will be completed. The analysts estimate the MAT at 240-310 billion rubles. The fiscal period will finish with the income tax payment on July 28. At financial markets the EUR / USD pair is being traded around the level of $ 1.1020, showing minimal changes from the beginning of the day.

Related Articles


No Comments Yet!

There are no comments at the moment, do you want to add one?

Write a comment

Write a Comment