On Tuesday, the dollar fell against the ruble to 55.5575, marking the lowest level since July 2015. This score was touched in January 2018.
Half an hour after the start trading, the dollar pared losses and by 11:31 Moscow time consolidated at 55.7500, gaining 4.5 kopecks.
The euro traded at the level of 68.7475 rubles by that time.
According to analysts, the ruble is growing amid high oil prices, an upgrade in Russia’s credit rating, a weakening dollar and prior to income tax payment timing.
Currently, such factors as the report of the new Federal Reserve chair Jerome Powell and the purchase of the currency by Russia’s finance ministry might count against the ruble.
In the foreign exchange market, foreign investors are building up long ruble positions by selling foreign currencies and boosting ruble lending in the currency swap market.
According to the Bank of Russia’s estimates, ruble net crediting by non-residents in the currency swap market grew by $3 billion to about $10 billion in January.
