The ruble exchange rate began to strengthen in the Forex market

On Thursday, September 10, the ruble exchange rate on the Forex market began to strengthen, at which point the dollar lost more than 1.8 percent in value. This is evidenced by Investing data.

Closer to 11:20 Moscow time, quotes of the American currency fell to approximately 83.62 rubles. The decrease by that time was 1.71 percent, or 1.45 rubles. At its minimum, the dollar exchange rate fell to 83.47 rubles. By 11:26 the dynamics accelerated. By this time, the dollar was trading at 83.5 rubles (minus 1.82 percent).

Experts attribute the strengthening of the Russian currency to a number of factors. Among the main reasons, analysts cited the rapid rise in oil prices due to another escalation in the Middle East and the improvement of the geopolitical background between Russia and the United States, taking into account the first telephone conversation between Presidents Vladimir Putin and Donald Trump in a long time.

However, one should not expect a sharper strengthening of the ruble in the foreseeable future, warned senior analyst at Pervaya Management Company Natalya Vashchelyuk. This will be prevented by temporary factors, which at the end of summer led to a deterioration in the foreign trade balance. Recently, in particular, there has been a noticeable increase in imports, which has contributed to an increase in demand for foreign currency in the domestic market.