the Russian currency feels the support of the national exporters, which form the ruble liquidity for the tax payments to the budget and dividend payments, explains the head of the Department of global studies “Opening Broker” Mikhail Shulgin.
the Range of 69-70,5 rubles per dollar for the Russian currency remains justified, however, in conditions of high volatility of risky assets, the probability of going beyond it remains, said the head of analytical management of Bank “St.-Petersburg” Andrey Kadulin.
Shulgin also notes that on Thursday, Turkey’s Central Bank ended a run of nine consecutive cuts rates unexpectedly kept rates unchanged at 8.25%. The Turkish Lira has responded with growth to the dollar, but pretty quickly returned to the U.S. your achievements, points out the analyst.
Shulgin remain constructive about the prospects of the ruble against the Turkish Lira and sees the potential departure of the Lira below 10 rubles and possible re-testing absolute lows set in August 2018 at the level of 9,376. The advantage of the Russian currency in positive real interest rates, says Shulgin.