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Ruble slides down after Argentinean peso

Ruble slides down after Argentinean peso

Jim Anderson - Public Relations

On Wednesday, August 28, the ruble fell completely discouraged and did not notice either positive news or the rising oil price. As a result, at the close of trading, the US dollar exchange rate "for tomorrow" again grew, adding another 36 kopecks (+0.54%), up to 66.8 rubles, and the euro didn't lag behind, having risen in price by 29 kopecks. (+0.4%), up to 73.98 rubles.

Perhaps the main negative factor that pushed the ruble down was the news from Argentina, whose authorities reached out to the IMF with a request to defer payment of debts. Recall that in 2018 Argentina received funding from the International Monetary Fund, the amount of financial assistance exceeded $56 billion. Probably, the country’s authorities are asking for postponement due to the election campaign, where, as shown by recent primaries, the current president is doing not good.

However, amid the recognition by the Argentine Ministry of Finance of the inability to repay the debt to the IMF in time, the Argentine peso collapsed on Wednesday by 3% against the dollar, pulling the currencies of other Latin American countries down. Brazilian real fell yesterday against the dollar by almost a percent, the Mexican and Colombian pesos lost a little less, about 0.2%, and the Colombian peso fell in price, but only by 0.06%.

Today, amid global instability, the ruble at the opening may again become lower. The forecasts for the dollar are up to 66-67 rubles per dollar and up to 73.5 -74.5 rubles per euro.