NEYVA Bank: Fiscal Period Factor to Support Ruble

19 November 2019 (09:11)

UrBC, Yekaterinburg, November 19, 2019. The USD/RUB and EUR/RUB exchange rates are going to stay at their current levels in the coming week as businesses are making their monthly tax payments.

According to Stock Market Operations Director at NEYVA Bank Dmitri Glebov, the exchange rates are only going to fluctuate within a very narrow range, as the markets are waiting for the details on the United States and China’s trade agreement. The fiscal period factor (November 15-25, 2019) will keep supporting the Russian ruble.

Glebov believes the USD/RUB and the EUR/RUB exchange rates will stay within 1/63.8-64.3 and 1/70.11-70.61, respectively, in the coming week.

The EUR/USD exchange rate is expected to consolidate at 1/1.0990-1.1040. Finance analysts say this is the risk factor that is currently keeping the rate at 1/1.1028.

‘The risk assets are rising because of the hopeful expectations to do with the United States and China negotiating. The White House’s Director of the National Economic Council Larry Kudlow says the agreement is about to go through,’ experts say.

Other materials on the topic::