Ruble falls again

The dollar value for tomorrow increased by 0.99 rubles to 51.5 rubles, the euro value by 1.03 rubles to 55.55 rubles at the Moscow Exchange. At some moments, the dollar appreciation grew to 53.66 rubles, euro to 57.65 rubles. One of the main reasons for the fluctuations is the oil price: Brent oil slumped by 1.21% to $62.95 per barrel. One other possible reason is that the Central Bank decided to increase the minimal rates at REPO currency markets on April 21, ruling out sudden appreciation of the ruble and expressing determination to keep the dollar prices above 50 rubles.

Anatoly Aksakov, deputy head of the State Duma Committee for the Financial Market, the president of the Regional Banks Association of Russia, the nosedive of the ruble was caused by falling oil prices and the Central Bank’s increase of REPO rates. The expert explained that a swift rise of the ruble would be harmful for the economy. He predicts a reverse process in the near future.

Alexander Abramov, a leading scientist of the RANEPA Institute of Applied Economic Research, said that the fall of the ruble was a result of its quick rise, the new REPO rates, the strive of banks to speculate on dollars.

Professor Yuri Yudenkov of the RANEPA Chair of Finances, Money Circulation and Credit, associates the slump with speculations. The analyst discourages from predictions based on a single factor. Continuation processes would allow experts to draw conclusions. As for the trend, the professor predicts fluctuations around 50 +/- 1 rubles per dollar, judging by the promises of the Central Bank.

The dollar value for tomorrow increased by 0.99 rubles to 51.5 rubles, the euro value by 1.03 rubles to 55.55 rubles at the Moscow Exchange. At some moments, the dollar appreciation grew to 53.66 rubles, euro to 57.65 rubles. One of the main reasons for the fluctuations is the oil price: Brent oil slumped by 1.21% to $62.95 per barrel. One other possible reason is that the Central Bank decided to increase the minimal rates at REPO currency markets on April 21, ruling out sudden appreciation of the ruble and expressing determination to keep the dollar prices above 50 rubles.Anatoly Aksakov, deputy head of the State Duma Committee for the Financial Market, the president of the Regional Banks Association of Russia, the nosedive of the ruble was caused by falling oil prices and the Central Bank’s increase of REPO rates. The expert explained that a swift rise of the ruble would be harmful for the economy. He predicts a reverse process in the near future.Alexander Abramov, a leading scientist of the RANEPA Institute of Applied Economic Research, said that the fall of the ruble was a result of its quick rise, the new REPO rates, the strive of banks to speculate on dollars.Professor Yuri Yudenkov of the RANEPA Chair of Finances, Money Circulation and Credit, associates the slump with speculations. The analyst discourages from predictions based on a single factor. Continuation processes would allow experts to draw conclusions. As for the trend, the professor predicts fluctuations around 50 +/- 1 rubles per dollar, judging by the promises of the Central Ba