The Ministry of Finance announced that it will spend to purchase foreign currency 203,9 billion by the end of this year. With such volumes, the office market has not yet been. Analysts warn that because of the intervention of the Ministry of Finance, the ruble will be under pressure. Factors that play against the Russian currency so much that the sharp fall in the rate may occur at any time. The next possible orientations for 60-65 rubles per dollar.
In November of this year, the Ministry of Finance has received a lot of additional oil and gas revenues. So much that by the end of December will be directed on purchase of currency by nearly 204 billion rubles This is a record figure since February, when the Finance Ministry released the foreign exchange market.
At the current rate, the volume of daily purchases of approximately $215 million Last time a comparable amount bought of the Central Bank in may-June 2015 in the framework of foreign exchange intervention.
The intervention of the Ministry of Finance in December, will play against the ruble. Analysts say that the actions of the Finance Department will be another factor that lead to the weakening of Russian national currency. The only question is the timing and the scale of the fall.
Among the factors, the continuing rise of geopolitical tensions associated with the expectations of another round of large-scale sanctions against Russia from the United States.
The approach of the New year, “a seasonal drop in the national currency, the approaching presidential elections, creating uncertainty for all types of business.” In addition, an important demand for currency from the population that the devaluation of the 2008 and 2014 taught to keep their savings in dollars.
In November of this year, the Ministry of Finance has received a lot of additional oil and gas revenues. So much that by the end of December will be directed on purchase of currency by nearly 204 billion rubles This is a record figure since February, when the Finance Ministry released the foreign exchange market.
At the current rate, the volume of daily purchases of approximately $215 million Last time a comparable amount bought of the Central Bank in may-June 2015 in the framework of foreign exchange intervention.
The intervention of the Ministry of Finance in December, will play against the ruble. Analysts say that the actions of the Finance Department will be another factor that lead to the weakening of Russian national currency. The only question is the timing and the scale of the fall.
Among the factors, the continuing rise of geopolitical tensions associated with the expectations of another round of large-scale sanctions against Russia from the United States.
The approach of the New year, “a seasonal drop in the national currency, the approaching presidential elections, creating uncertainty for all types of business.” In addition, an important demand for currency from the population that the devaluation of the 2008 and 2014 taught to keep their savings in dollars.