Friday, January 30, 2009

The official euro rate Breaks at 44 rubles - the first time in history

In the euro - a new record. During the trading on the MICEX its course for the first time exceeded 44 in the ruble. The Russian national currency and basket has become even closer to the maximum allowed the Bank of Russia - before it even 3 rubles, said Interfax.

Trading on MICEX calculations "Now the euro has begun a transaction at a price of 44 rubles. In the following minutes at a session of the calculations "tomorrow" for the euro was the deal at 44.4375 rubles. Nevertheless, most of the morning deals on the euro held near the level of 43.85 rubles, 10 cents above the value of rate and a 22 cent above the closing Tuesday.

As a result, the Central Bank of Russia set the official exchange rate for tomorrow, 29 January, at 33.2155 rubles to the dollar (21.76 cent). The official euro rate for tomorrow - 44.0305 rubles for one euro (31.82 cent).

The growth of the euro against the Russian continued to strengthen against the euro to the dollar. The single currency in Europe worth 1.3252 dollars on Wednesday morning, compared with 1.3160 on Tuesday evening. And experts think the euro will continue to rise on expectations that the European central bank will refrain from lowering interest rates from the current 2% at the next meeting, scheduled for February 5. And this is one more argument in favor of a strong euro.

It should be noted that the dollar rose to 33.8 ruble, the euro - up to 45.05 rubles on MICEX bid calculations "tomorrow" about 15:40 on Wednesday. Thus, both the American and European currency reached an historic high levels of the ruble.

Given that the Russian market follows the trends of the West, where the euro continues to push the dollar, it can be assumed that the European currency will continue its heroic climb to the top if the Russian participants have enough rubles to play in the currency market.

Recall that last week the Central Bank announced that the upper limit of the range of fluctuations basket (operational indicator CBR, $ 0.55 and EUR 0,45) is at the level of 41 rubles, which corresponds to mark 36 rubles to the dollar at the rate 1.3 U.S. for the euro. It is easy to calculate that, based on these assumptions, the rate of the euro is allowed up to 47 rubles. And if the euro will not cost 1.3 dollars, and above, as now, the upper limit for the euro to the ruble will move into a big party.

Meanwhile, the dollar and could add a little bit. Trading on MICEX dollar payments "tomorrow" started at 33 rubles, 5-7 minutes later, the dollar rose to 33,1-33,15 ruble - it is about 10-15 cents above the previous day's closing level and the current official exchange rate of the dollar.

Bivalyutnaya basket in the early trades of 38 rubles to 20 cents above the previous evening trading day. Thus a landmark in the 41 ruble to a level which the Central Bank has recently allowed it to get up, became even closer.

No comments: