Logo
  Monday, October 21, 2019
Sign-In  |  Sign-Up  |  Contact Us  |  Bookmark 

The dollar rate increased on MICEX following the positive dollar dynamics
The dollar rate increased on MICEX following the positive dollar dynamics on the Global Forex Trading due to the Federal Reserve rate hike. In the first two hours, dollar deals on MICEX for tomorrow increased from 27.63-64 to 27.68 rubles per dollar, followed by pegging. Hence, the official rate of the dollar went up by six kopecks against the ruble to reach 27.6381 rubles per dollar. Russian dealers say that the Forex dynamics is the main peg for the Russian market. In the previous days, the US national currency increased nearly by 12 kopecks in anticipation of the US Federal Reserve rate. Previously, experts also focused on the Federal Reserve comments as to whether the rate growth would remain at a moderate level (one-time growth by 0.25% maximum) or become more aggressive. On Tuesday night, news came that the US rate had increased by 0.25% to 2.75%. This decision encouraged dollar growth on Forex to $1.3083, a record high monthly figure, said Yelena Khrupova, the analyst of the BrokerCreditService investment company. The US Federal Reserve announced about the moderate rate increase but pointed out the mounting inflation pressure in the country. According to Khrupova, this reservation indicates the possibility of more aggressive growth of the rate in the near future. "This announcement gave a powerful boost to the dollar on the currency market," agrees Alexander Osin, the analyst of the Ekonatsbank. In his opinion, the chances to increase the rates by 0.5% already at the May session of the Federal Reserve "can be construed as quite serious now." Experts note the significance of the reports on the US inflation published on Thursday. "Today we expect dollar to be consolidated [on Forex] at the current level in expectation of new inflation reports that could throw light on the Federal Reserve's further moves in relation to the rate hike," Khrupova believes. Osin concurs with this opinion, and is positive about the forthcoming publications. "It is possible that tomorrow's macroeconomic indices would boost the US currency again, despite the present short-term technical outbidding," said the expert. According to Osin, considering the stable dollar rate on Forex today, the dollar rate to the ruble is highly likely to be restored at 27.7-27.9 rubles per dollar.
Print The dollar rate increased on MICEX following the positive dollar dynamics Bookmark The dollar rate increased on MICEX following the positive dollar dynamics

Related News   
FebMarch 2005Apr
MoTuWeThFrSaSu
28123456
78910111213
14151617181920
21222324252627
28293031123
45678910