The last time at that price, the dollar was trading at Masuria in August 2016. The Central Bank assures that it has enough tools to prevent financial instability
Photo: Andrew Lubimov / RBC
Dollar exchange rate exceeded 67 rubles. after the opening of trading on the Moscow stock exchange on Friday morning, August 10. This is evidenced by the auction.
The Euro, on the contrary, loses a little in price and, as of 10:40 GMT, is traded at the level of 76.4–76.5 in RUB
Over the previous two trading sessions the dollar and the Euro has grown against the ruble due to purchases of foreign currency amid rising risk of sanctions.
What do new US sanctions. The main thing
If 7 Aug auction closed at 63.5 rubles to the dollar, on the morning of 8 August, the dollar / ruble exchange rate peaked in April 2018, at the height exceeding 65 RUB 9 August the dollar exceeded 66 rubles, reaching the level of November 2016. The Euro after the opening of trading on Thursday struck the bar 77 RUB But then courses were corrected: the dollar fell below 66 rubles, and the minimum value of the Euro during the trading amounted to RUB 76,31
The reason for the volatility of the ruble became the sanctions risks. On the morning of 8 August was the published details of the draft law prepared by the American senators. The project envisages sanctions against Russian sovereign debt and banks.
In addition, the state Department announced the decision to introduce sanctions against Russia due to the use in the UK substances “Newbie”. But the Washington Post reported that the President of the United States Donald trump is also preparing a decree allowing to impose sanctions on foreigners interfering in American elections. The document, which are in the White house, is seen as an alternative “aggressive” anti-Russian initiatives coming from Congress.
Investors reacted to the reports: the securities market has also been a fall in the value of shares of several Russian companies. Because of the prospect of the ban on flights in the United States have lost value in shares of the company “Aeroflot” has fallen in price shares of Sberbank and VTB and other companies.
Medvedev compared the strengthening of US sanctions a Declaration of economic war
Finance Minister Anton Siluanov, commenting on the fall of the ruble and events in the stock market, said that the cause of these events was not only “the next wave of sanctions the rhetoric of the US”, but also “the unstable situation in emerging markets.” He stressed that the Russian economy in recent years has become more stable, and the government and the Central Bank “possess all the necessary tools to ensure financial stability.”
On the morning of 10 August, the Central Bank issued a statement about the situation on the currency market. The regulator stressed that it has sufficient number of tools to prevent financial instability.
“Such episodes of volatility have emerged earlier in the background discussion of the sanctions and restrictions were temporary. Support the ruble continues to have a significant sale of export currency proceeds”, — is spoken in the message of the Central Bank.