The rouble was started up in swimming
Bank of Russia has finished its devaluation
Yesterday Bank of Russia has informed on end of scale smooth devaluation of rouble: on January, 23rd the top border bivaljutnogo a corridor will be established at level 41 rbl. of the Central Bank does not intend to change it the next months and considers current level of rouble at the present prices for oil sufficient for maintenance of the balanced current account of the balance of payments. Thus the Central Bank has reminded that the rouble within the limits of a corridor can move not only downwards as besides currency interventions and interest rates the Bank of Russia is going to apply to maintenance of stability of currency and restriction on refinancing volumes.
as it is marked in the Central Bank message, course of devaluation of rouble has given the chance to subjects of the Russian economy to react to currency risks. Since Friday the Bank of Russia will establish the top border of a corridor at level 41 rbl. that at a current rate 1,3 dollars for euro correspond 36 rbl. For dollar. “ the specified size is defined taking into account remaining risks of deterioration of the foreign trade conjuncture for the Russian Federation, however the Bank of Russia considers the given risks as moderated and does not intend to change this border the next months “ - it is told in the Central Bank message.
by an estimation sorukovoditelja analytical department Deutsche Bank in Russia Yaroslav Lisovolika, the top border of a corridor of a basket at a rate of 41 rbl. reflects a present price level on oil and a condition of the balance of payments. An analyst of YOKES “ the Renaissance the Capital “ Nikolay Podguzov also considers that established by Bank of Russia level corresponds to fundamental indicators of the Russian economy: “ Namely - allows to achieve the sufficient account of current operations taking into account the current prices for oil “.
As the head of Bank of Russia Sergey Ignatyev has informed yesterday, the top border of a corridor can be changed in case of serious and long falling of the prices for oil, the Prime - TASS reports. As he said, in case of decrease in the world prices for oil of mark Urals to 37-38 dollars for Central Bank barrel hardly will change the top border of a technical corridor of cost bivaljutnoj baskets. If the barrel falls in price to 30 dollars and remains at the same level, probably, “ we should change border “.
According to Nikolay Podguzova, the yesterday`s decision of the Central Bank is the best alternative, than stage-by-stage easing of rouble: “ I Think that taking into account the present decision speculative pressure " should decrease;. As the analyst marks, the next ten days before end of the tax period of the Central Bank will continue to buy most likely currency, instead of to spend reserves for rouble exchange rate support. Then, in opinion g - on Podguzova, in the beginning of February the rouble exchange rate nevertheless will start to move towards declared ofera the Central Bank. “ Appearing free liquidity most likely and will go on currency purchase “.
that to players of the currency market is desirable to lower pressure upon rouble, the Bank of Russia in the message hints also, underlining that in a corridor bivaljutnoj baskets the rouble can move in both directions: “ Actual cost bivaljutnoj baskets will develop in a technical corridor under influence both market factors, and currency interventions of Bank of Russia and can be essential more low its top border “. Besides, the Central Bank has reminded that “ for stability maintenance “ rouble in addition to currency interventions it will continue application and other tools: interest rates and “ quantitative restrictions on refinancing volumes “. Sergey Ignatyev has declared yesterday that within the next few days cost bivaljutnoj baskets will not come nearer to the top border, informs the Prime - TASS. “ moreover, can, will decrease even in comparison with current cost “ - the head of the Central Bank has told.
according to the head of department of the economic analysis of MDM - Nikolay Kascheyev`s bank, the Bank of Russia has made the decision during the successful moment when in the market there are problems with rouble liquidity, and participants are overloaded by dollars. “ the Central Bank, on the one hand, has started up rouble in free swimming - the basket corridor is wide enough, and on the other hand, has specified physical restriction of such swimming “ - he speaks. As the chief of department of conversion operations ING Wholesale Banking Alexey Borichev has noted, tax week, hardly the market yet will not end will approach to oferu Bank of Russia: “ There are tax payments, exporters sell a gain, thus in the market deficiency of rouble liquidity which has been translated in dollars in game on rouble easing “. In its opinion, after end of tax week cost bivaljutnoj baskets nevertheless will approach to the top border of a corridor as preconditions for rouble strengthening while are not present.