The dollar slipped lower against the ruble for the second month

© RIA Novosti / Vladimir Travelagency. Archival photoThe dollar slipped lower against the ruble for the second month© RIA Novosti / Vladimir Trefilov

The dollar against the ruble fell for a second month in a row amid strong growth of cost of oil during this period, according to the auction.

RIA Novosti interviewed experts believe that in the medium term purchase of U.S. currency could be an interesting investment.

Dollar since the end of July was lost to the lows of September (56.78 ruble) about 3 rubles (5%). The cost of oil has increased over this period by 13%.

The dollar is already about 57.7 ruble, that is, moved up from the lows of September, while the oil remains at the peak of prices with the beginning of the year.

Ruble rid of oil, it time to buy dollars

Thus, there is partial loss of contact of the ruble, with the cost of oil. That is, black gold rises in price, and the ruble is behaving quite sluggish and sometimes even declining, says the head of the center of development strategies of Gazprombank Yegor Susin.

In the end, the ruble, the oil price rose to highs for a few months – above the level of 3.3 thousand rubles per barrel of Brent. In September this index rose by approximately 15%. It is positive for the budget because taxes on oil companies is calculated on the ruble, prices of energy resources and the higher it is, the more income.

«It is clear that from a fundamental point of view, further growth of oil malaprade, and may soon begin a correction of its price down. In this case, since the ruble rid of oil, and cheaper after oil it will be not very fast, but in the medium term who wish to buy dollars should have to think about it. At the end of the year, the weakening of the Russian currency will go faster,» says Susin.

«The peak of foreign debt payments is in December (13, 9 billion dollars to repay the Corporation Russia and the 4 billion — banks). This will lead to the appreciation of the currency in the Russian market and may contribute to further weakening of the ruble», — analysts of Raiffeisenbank.

However, for fans to catch (buy) a $ at the bottom, Anastasia Ignatenko Ledger «Teletrade» proposes to take a chance and wait for the slipping of the dollar in district of 56.7-56.8 per ruble, and then deepening the correction to 56-56,with 3 br, located where more significant levels of support, corresponding to the minimum values of April-June 2017.

The dollar slipped lower against the ruble for the second month© RIA Novosti / Vitaliy Podicipedidae

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