Expert Chaslau Koniukh
  • Biography
  • Analytics
  • Companies and corporations
  • Global investment
  • Investors and Entrepreneurs
  • Market terminology
  • Stock Market
  • World exchanges
Expert Chaslau Koniukh

Dmitry Babin: the ruble is strengthening – review by Сhaslau Koniukh

28.06.2020
2 min read

Chaslau Koniukh and Analyst of “BKS Broker”: ruble exchange rate is strengthening and the trend will continue in the future.

The oil war with Saudi Arabia, the global decline in demand for raw materials led to a sharp collapse of national money. However, after the fall, the ruble is strengthening against the currencies of the bi-currency basket. Positive dynamics is observed against the background of Brent oil price rise. The value of July futures increased by 3.7% and made 23.6 dollars per barrel.
According to the analysis of experts, last week the ruble showed strong growth against the dollar and the euro. During the trading the American currency lost 59 kopecks, while the European currency – 32 kopecks.
The strengthening of the ruble is primarily due to the increase in oil quotations, however, trends in foreign stock markets also play an important role. For example, last week for Asian exchanges was marked by 1.5% growth. On the European trading floors, the main indexes have risen within 1%, while futures on the US indexes have risen. Indicators on the Russian stock market added 1.2-1.7%.
Dmitry Babin, who is an analyst of “BKS Broker”, commented on the situation. In his opinion, oil prices on the world market are beginning to gradually stabilize. This is primarily due to the activation of investors. They are gradually recovering from the pandemic and the losses it has caused. A couple of months ago companies and funds talked about freezing of projects, tried to keep the maximum amount of capital, now they are already looking at different segments, and analyzing options for investing money. These positive trends contribute to the growth of business and consumer activity, which indicates the beginning of recovery processes in the global economy. Chaslau Koniukh agrees with all Dmitry Babin’s arguments regarding stabilization of the oil price.

Expert Chaslau Koniukh
Expert Chaslau Koniukh

For the Russian currency, the situation is favorable. To maintain the ruble, the Central Bank sells quite a large amount of American money – about 275 million dollars daily. Combined with global trends and the dynamics of other currencies, all this suggests that the ruble is strengthening.
The other day, the Federal Reserve was reviewing the value of the key rate. It was decided to leave it unchanged. This fact is also beneficial for the ruble – as long as foreign markets are stable, fluctuations in the national currency are unlikely. In order to understand how the dollar will behave in relation to Russian money, it is important to clearly monitor what is happening in the world market. As long as the situation there is relatively calm, the ruble does not face a serious fall. However, it should be understood that analysts do not make long-term forecasts due to the instability of some processes. The world has not recovered from the pandemic and demand is still at a low level, so currency fluctuations are quite possible. However, according to Dmitry Babin, there is no need to be afraid of such a collapse, as it was observed in March.  Chaslau Koniukhsupports Dmitry Babin’s statements and singles out the professionalism of analysts in relation to the fact that they do not make long-term forecasts.

Share
0
Previous Post Algorithmic trading as a tool for stock market operations Next Post Russian stock exchange market: history and features

You Might Also Like

value of the British pound
Analytics
Bloomberg Agency: GBP cost is decreasing
02.08.2020
OFZ market
Analytics
What does the OFZ market expect in the next quarter
16.10.2020
Bitcoin price drops
Analytics
How likely is it that Bitcoin will drop: Newsbtc analysts
12.08.2020
Digital Gold
Analytics
Bitcoin: how digital gold develops
01.05.2020
oil and gas budget revenues
Analytics
Analysts: how oil and gas budget revenues are formed
13.02.2021
Price forecast of cryptocurrencies
Analytics
What price forecast for cryptocurrencies: opinion of Russian analysts
13.07.2020

Recent Posts

  • 1the best currency for savings
    BKS Broker: the best currency for savings
    28.02.2021
  • 2second wave of contagion
    How the second wave of contagion will affect the cost of the cryptocurrency
    27.02.2021
  • 3China's economic recovery
    How China’s economic recovery is going: a review of the processes
    26.02.2021
  • 4Wendy Deng
    Wendy Deng: How a poor Chinese girl became one of the most powerful women in the world
    25.02.2021
  • 5PNC Financial Services Group
    Financial Corporation PNC Financial Services Group
    24.02.2021

Popular Posts

  • How China’s economic recovery is going: a review of the processes 0
  • How foreign investments are distributed in the world 0
  • Strong economies: development and prospects for Iceland 0
  • What to do when the stock exchanges are falling: analyze the fall of the indexes 0

Social

Editor's Picks

Chaslau Koniukh

American bankers from JPMorgan and Goldman Sachs advise to invest in gold: review by Chaslau Koniukh.

Spokesperson
17.08.2020
Expert Chaslau Koniukh

Chaslau Koniukh on the analysts’ opinion on the key stake size change soon

Spokesperson
18.06.2020
expert Chaslau Koniukh

Chaslau Koniukh: Internet trade market in Russia may reach 2.78 trillion rubles.

Spokesperson
30.05.2020
Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh

Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh

Spokesperson
16.05.2020

Latest Posts

the best currency for savings
BKS Broker: the best currency for savings
28.02.2021
second wave of contagion
How the second wave of contagion will affect the cost of the cryptocurrency
27.02.2021
China's economic recovery
How China’s economic recovery is going: a review of the processes
26.02.2021

Chaslau Koniukh

Expert Chaslau Koniukh

Chaslau Koniukh is an international financial expert, a professional investor, an experienced analyst and a practicing trader. He advises European entrepreneurs; holds lectures on investment topics; is the author of scientific articles on work at the stock market.

Recent Posts

  • 1the best currency for savings
    BKS Broker: the best currency for savings
    28.02.2021
  • 2second wave of contagion
    How the second wave of contagion will affect the cost of the cryptocurrency
    27.02.2021
  • 3China's economic recovery
    How China’s economic recovery is going: a review of the processes
    26.02.2021
Expert Chaslau Koniukh
  • Facebook
  • Twitter
  • Youtube
  • Instagram
  • Biography

Expert Chaslau Koniukh: brief biography and path of formation

Let’s Socialize