Since the beginning of a new trading day dynamics of the Russian currency, only worsened, despite a slight recovery in the stock market and the rebound in oil prices higher, and now being offered a basket of currencies CBR (approx. forexp.ru: 55% of dollars, and by 45% of euro) to the ruble reached highs near 38.74 and now holds about 38.61, while the dollar / ruble jumped to 34.22 and is currently trading near 34.10. Dealers noted that despite some improvement in the markets, speculative accounts have chosen to continue the reduction of accumulated exposure in recent weeks in the Russian currency, given the relatively good growth of the ruble since the beginning of March and the growth of fear that the recent improvement in the dynamics of commodity prices and stock quotes, it was built on overly optimistic expectations, and may give way to a downward movement. Currency strategists Goldman Sachs, meanwhile, encouraged to draw attention to the fact that economic statistics in Russia remains weak, assuming the risk of increasing pressure on the ruble. The bank noted that growth in unemployment to a maximum of eight years in 9.5% and a dramatic drop in retail sales in 1999 to 4% in March, signals that the central bank may require some reduction in rates, which, according to strategists Goldman Sachs, would support a relaxation of Ruble, although they still expect that this year he will keep close to the mark at 39 rubles to the currency basket of the Bank of Russia.
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