Central Bank set the official exchange rates for November 11. Dollar exchange rate decreased by 0.27 rubles and reached 64.3908 rubles (64.6606 rubles as of November 10). Euro exchange rate down by 0.37 rubles to 69.2394 rubles (69.6136 rubles as of November 10).
It is unlikely that dollar exchange rate will fall below 64 rubles while oil price is less than 49 dollars per barrel, thinks the analyst "InstaForex" Igor Kovalyov.
According to him, on Monday, trading on exchange market was relatively calm. "Ruble didn't show any sharp fluctuations and stabilized in the range of 64-64.5 rubles, where attempts of growth of national currency were limited just with the psychological level of 64"- said the expert.
The analyst notes that the main reason for the fluctuations of quotes is the mixed signals coming from the commodity market, where the oil itself is not able to identify a clear direction, while being under the influence of several factors.
According to his forecast, in the absence of other accelerators, "the ruble will continue to observe the dynamics of oil prices, which have returned under the $48 level on statements made by Oil Minister of Kuwait that energy prices will remain low for a long period of time".Thereafter, while Brent will not return into the range of $48.5-$49, the movement of the pair USD/RUB below 64 rubles is highly unlikely, concludes the analyst.