On Wednesday, June 3, the exchange rate of the euro in Russia broke through the 61 ruble mark for the first time since the beginning of April, having strengthened by more than 2 rubles during the day. The dollar exchange rate rose above 54,3 rubles. The ruble fell due to a general overestimation of the resumption of hostilities in the Donbass, stock analysts believe.
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“The market is reacting to reports that active hostilities have begun again in Ukraine,” said RBC Head of trading on the foreign exchange market of the BCS group Alexander Mühlberger. Oleg Kuzmin, chief economist for Russia and the CIS at Renaissance Capital, agrees with him.
“The exchange rate is affected by falling oil prices and Ukraine, and the news about the resumption of fighting probably had an even greater impact. Today reminded players that the lack of news from Ukraine recently does not mean that the situation has been resolved; there is still tension there, which continues to give markets volatility,” notes Kuzmin.
“We are still waiting for the strengthening of the dollar against the ruble to continue for some time; an important mark is 55 rubles. per dollar, you need to see how the exchange rate behaves. The behavior of oil prices is also important,” says Yaroslav Podsevatkin, head of trading at the investment company Aton.