Dollar breaks 34 ruble mark

The price for the dollar increased by 0.22 rubles to 33.90 rubles, according to the tomorrow’s rate of the MICEX-RTS. The euro price increased by 0.44 rubles to 42.09 rubles, RIA Novosti reports.

The currency basket of $0.55 and 0.45 euro increased by 0.33 rubles, compared with the previous closing and reached 37.60 rubles. Analysts expect the ruble to stay under pressure.

$1 costs 34.03 rubles at the Forex market, €1 costs 42.22 rubles.

Investors expect new parliamentary polls in Greece on June 17 and are passive in purchasing risky assets. Oil prices drop, updating the minimums of autumn 2011. The RTS indicator reached a minimum since autumn 2009. The situation is also aggravated by weakening ruble.

The currency regulator sold about $160 million last week, which is not enough to prevent speculative attacks on the ruble. With the currency basket reaching 38 rubles, intervention of the regulator will increase. The Bank of Russia sold assets worth about 4.58 billion rubles ($135 million) at the domestic market in the light of ruble’s weakening on May 31. The Central Bank sold 2.28 billion rubles.

The RTS indicator dropped by 0.87% to 1216.93 points at 10.01 am. The MICEX indicator dropped by 1.32% to 1280.9 points. Analysts predicted reduction in the light of cheap oil (under $100 per barrel) on Monday.

Yuri Kravchenko from Veles Capital said that the dollar has good chances to strengthen. Further reduction of oil prices to $90 per barrel will give a new impulse to purchasers of currency.

Alexey Koslov of the UFS Investment Company expects reduction of the dollar/ruble pair to 33.30 – 33.40, the euro to 41.40 rubles.

Most US stock indicators dropped by 2.2-2.8%, due to negative activities in Europe and China. US futures dropped by 0.6-0.8% at 9.06 am.

Asian stock markets dropped by 0.7-3.2%. Oil prices vary at about $96.7 per barrel (-1.7%) of Brent. The euro rate is $1.2410, compared with $1.2432 at the previous closing of trade.