Rouble sees a correction in pairing with USD and EUR

At the end of the trading session at the MICEX currency section on Tuesday, the Russian Rouble rate showed strong growth in pairing with the USD – the day ended at the level of 31.70 roubles, which is 71.5 kopeks lower than yesterday’s closing level.

Dual currency basket value amounted to 36.88 roubles today (-61 kopeks).

A set of factors was the reason for such strong correction – including profit taking in the pair Dollar/Rouble amid positive external background backed by hopes of soon salvation of the Eurozone debt problems. 

The Euro at the MICEX currency section loosed its ground to less than 32 Roubles for the first time this week.

So correctional movement is likely to continue. Presumably, the pair Dollar/Rouble will be in the channel of 31.50-32.30 Roubles for the USD at the trading session on Wednesday.