The dollar on Monday rose by 24 kopecks to 58,08 of the ruble, follows from the data of trading on the Moscow exchange.The Euro rose 30 cents to 65.01 ruble.
The Central Bank’s decision to lower the key rate to 9% of the Central Bank, said chief Russia economist at ING in Russia and CIS Dmitry Polevoy in comments to News.Finance, some supported the ruble, but the future, its impact will be minimal.
The Russian currency remains under influence of low oil prices and seasonal factors, the deterioration of the balance of payments and the increased uncertainty in connection with new US sanctions. But at the same time, the rouble will receive support from export sales in anticipation of taxes and possible currency conversions for the coming dividend payout. Therefore, the process of weakening of the ruble will be quite smooth.