The ruble has suffered another defeat

21.06.2012 External factors, especially landslide of oil prices are the reason of weakening of Russian currency.

Dollar to ruble exchange rate after the opening of trades increased by 34 kopecks and punched a mark in 33 rubles for a unit of the U.S. currency. The Euro jumped to 47 kopecks. The rate of the common currency from the Bank of Russia for tomorrow is      41, 72 ruble.

The reason of falling trend in oil prices was the reduction of the Federal reserve system of the USA state value of the American economy with the data on supply of oil and oil products in the USA, which were higher than forecast, and caused a powerful collapse of oil prices.

According to experts, the risks of further weakening of the ruble will remain, but the pace of decline will be deterred tax payments.

However, the Head of Sberbank German Gref hopes that the dollar exchange rate will return to 30 rubles and makes a positive projection. According to him, Russia has enough big gold and currency reserves, to hedge any speculation against the ruble.

On the other hand, the chances of the strengthening of the currency been evaluated as «50/50», because the oil price today is practically impossible to predict.

Expert’s opinion

You're miserable and worthless people!!! «Gus, only goose!!!» - so used to say in his time old Panikovski.

Mikhail Samuelievich, as surely you noticed!

Really goose is a value! And here's the RUB - it's of course also the value, but the goose in any currency - feed a few people.

And here is the ruble depends on the level of confidence to him. The only certainty that the slips of paper, which we will have today, tomorrow can be exchanged for the goose is the basis of the existence of money.

If the trust is not there, the money is only paper.

Nothing has changed in Russia. Geese are growing, oil rocks, gas is extracted, zhiguli are made, people go to work, road patrol offices stand at the posts and etc. Nothing has changed!!!

The changes only in the news - consume the U.S. will be less. And in the Russian Federation - all in hysterics and to restrain the exchange rate of the ruble require.

Something was wrong.

And no intelligent ranting scholars and prominent politicians and economists do not change the immortal: «Goose - only the goose! »

And cease to be afraid, everything will be fine!

Russia is too large to tremble in convulsions.

Well as those of our customers who think and act faster than the other can always earn on the race course.

On the basis: http://www.cbr.ru/

Lomakin Yaroslav ( Managing Partner of Honest & Bright Company Ltd .)