On Friday, October 9, the Russian currency strengthens moderately during trading on the Moscow Exchange.

At the beginning of the day, the dollar rate decreased by 0.6% - to 76.88 rubles, and the euro rate - by 0.5%, to 90.5 rubles.

Values ​​are the lowest since September 25th.

The official exchange rate of the Central Bank for October 10 is set at 77.03 rubles per dollar and 90.72 rubles per euro.

According to experts interviewed by RT, the actions of the Bank of Russia play in favor of the ruble.

Recall that in order to stabilize the exchange rate, the regulator began proactive sale of foreign currency in the domestic market in March.

Thus, the Central Bank artificially increases the demand for rubles.

In total, during this time, the volume of currency sales amounted to about 1.24 trillion rubles.

And since October, the Central Bank has more than tripled the daily volume of foreign exchange sales - up to 8.6 billion rubles.

Anna Bodrova, a senior analyst at the Alpari information and analytical center, told RT that the decision of the Central Bank provided additional support to the national currency.

“Moreover, we see that oil prices have grown well over the past week, and the ruble as a raw material currency could not ignore this catalyst,” Bodrova added.

Since the beginning of the week, Brent crude on the ICE exchange in London has risen in price by more than 10% and is currently trading near $ 43 per barrel.

The last time the quotes exceeded this mark in mid-September.

Analysts partly explain the rise in oil prices by a meteorological factor: because of hurricanes and storms, American oil workers had to stop more than 91.53% of production in the Gulf of Mexico.

This was announced yesterday by the US Bureau of Safety and Environmental Control.

Against this backdrop, investors fear disruptions in the supply of hydrocarbons.

As the expert on the stock market "BCS World of Investments" noted in a conversation with RT

Dmitry Babin, the observed appreciation of the national currency is also associated with the recovery of the Russian debt market.

Due to the increased inflow of investments since the beginning of the month, the Russian government bond index (RGBI) increased by more than 1% and reached 154 points at the Friday auctions.

The value became the highest since the beginning of September.

“The debt market indicator has been growing for the fifth session in a row and has already renewed its monthly maximum.

This is due to the fact that the yield on Russian federal loan bonds (OFZ) is still more attractive to investors compared to debt securities of other markets, ”explained Babin.

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The ruble also reacted positively to the decision of the Russian authorities to reintroduce fines for businesses for failure to return foreign currency earnings.

Yevgeny Mironyuk, an analyst with Freedom Finance, told RT in an interview with RT.

“The fact is that, according to the law, exporters are obliged to transfer the proceeds received as a result of operations in foreign markets in any currency to their accounts with Russian banks.

Otherwise, a fine will be charged.

In June, these fines were lifted due to the pandemic as one of the business support measures.

However, on September 29, the moratorium on the collection of fines was lifted.

All this can significantly increase the sale of foreign currency on the domestic market and support the ruble, ”explained Mironyuk.

According to Dmitry Babin, some pressure on the Russian currency is exerted by the uncertainty in the financial markets ahead of the presidential elections in the United States, scheduled for November 3.

As the expert explained, the possible victory of Joe Biden could lead to increased sanctions risks.

Meanwhile, at the moment, the influence of such geopolitical factors on the ruble has somewhat weakened, Anna Bodrova is sure.

“Geopolitics has not left the agenda, but this driver has already lost its sharpness - the drama of the market is such that news here can lose relevance very quickly.

In other words, for the Russian currency, all the same catalysts remain significant as in recent months, just now they have changed direction from the habitually negative to stable positive, "Bodrova explained.

Against this background, analysts do not expect sharp fluctuations in the dynamics of the national currency in the near future.

According to Anna Bodrova, by the end of the month the dollar exchange rate will remain in the range of 76-79 rubles, and the euro exchange rate - around 90-93 rubles.

In turn, Yevgeny Mironyuk believes that the indicators can be in a wider range - 75-80 rubles per dollar and 88-93.3 rubles per euro.