Russian ruble began to decline again

Baku. 28 July. REPORT.AZ/ Yesterday the dollar again reached the level of 60 USD /RUB.Last time such a course was recorded on March 20, 2015.Ruble reached its maximum historical level on December 16, 2014 (80,024 USD/RUB).

Report informs, among the main reasons for the weakening of the ruble indicated factors such as the fall in oil prices on the world market, the panic on the stock exchanges of China and the Russian Central Bank's monetary policy.

Even the beginning of the period of tax payments in Russia did not supported ruble. Although on July 27-28, exporters transferred to the state budget 600 billion rubles as a whole (10 billion dollars), issuance to the foreign exchange market is not observed. According to experts, the exporters have prevented the growth of the ruble some time ago, exchanging foreign currency for rubles some time ago.Now there is a great demand for foreign currency and it is expected that the rate will exceed 60 USD / RUB.Dividends paid by a company also play a big role in the growth rate of the ruble, because non-residents convert funds to foreign currency.

Sharp fall in share prices on the Shanghai Stock Exchange also affects to appreciation of the USD / RUB.Reduced index of Shanghai Stock Exchange contributes to the fall in oil prices.So, yesterday, on July 27, the index fell by 8.48% to 3 725.56 points.The decline of the index was due to the investors' pessimistic approach to the future of China, which has the second largest economy.Analyst of Lipow Oil Assosiates Andy Lipow thinks that signs of a slowdown of the Chinese economy immediately affect the price of oil.This morning, the price of Brent crude oil fell to 53 dollars/ barrel. As a result, from May 6 to date, oil prices dropped by 24.5%.The minimum price of oil fixed on January 13, 2015 - 47.68 dollars/ barrel.

The chief economist at Alfa Bank, Natalia Orlova predicts fluctuations of the ruble in range of 60-63 USD / RUB.

Sberbank CIB experts believe that, by the end of the year exchange rate will rise to 65 USD / RUB.