Ruble takes break amidst external negative factors

The ruble weakened on Friday amidst external negative factors after
a three-day period of strengthening.

On Friday the dollar  increased by 42 kopecks and amounted to 32.67
rubles while the euro increased by 16 kopecks and amounted to 40.71
rubles, according to the information of MICEX-RTS.

Trading on the Russian currency market on Friday demonstrated high
domestic currency market volatility. Following the three days of
active growth (dollar decreased to 32.03 rubles from 34.15 rubles),
the ruble took a break and again began to weaken against the dollar
and euro.

Among the negative factors contributing to the weakening of the ruble
is the act of downgrading of Spain by the Fitch agency from A to BBB,
RIA-Novosti reports.

The speech of the head of the US Federal Reserve, Chairman Ben
Bernanke, in which he negatively assessed the state of the US economy
and its weak labor market also contributed to the situation.

Against this background, the price of oil has fallen back below the $100 per barrel mark.


According to analysts, the ruble is very sensitive to external factors
and oil prices that continue to fall amid uncertainty over the
situation in Spain, as well as the weak statistics in the US.