On Thursday, the trend towards a moderate weakening of the ruble continued in the foreign exchange market. So, by the end of trading, the yuan/ruble pair added 0.4%, ending the session around 11.35 rubles. Today, in our opinion, moderate pressure on the ruble will remain. The gradual seasonal recovery in demand for foreign currency from importers and the expectation of further easing of monetary policy lead to a predominance of sales in the national currency. At the same time, the yuan/ruble pair will maintain its position in the upper half of our target range of 11-11.5 rubles in the near future, with a gradual shift to resistance at 11.5 rubles. We expect the Chinese currency to fully consolidate around this mark towards the end of the month.
Bogdan Zvarich, Head of Banking and Financial Market Analysis at PSB.The "Comments" section of the AK&M news agency publishes materials submitted by Russian and foreign investment companies and banks. Their opinions may not coincide with the opinion of the editorial staff of the AK&M agency. The opinions presented in the comments are expressed taking into account the situation at the time of publication of the material. The comments are for informational purposes only; they do not constitute an offer or advice on the purchase or sale of securities. For questions about the placement of information in this section, please contact the agency's editorial office by phone (499) 132-61-30 ext. 0102.
