MOSCOW, April 15. /TASS/. Russia’s stock market closed in the green on Wednesday as the ruble-denominated MOEX Index added 0.55% to 2,740.45 points, while the dollar-denominated RTS Index gained 1.37% to 1,147.48 points. The yuan exchange rate against the ruble added 1 kopeck to 11.06 rubles.
"The Russian stock market had a weak start to Wednesday, with the Moscow Exchange Index falling to 2,708 points. However, by midday, buyers revived, pushing most benchmark indices into positive territory. This may have been fueled by a rebound in currencies and certain news items," said Andrey Smirnov, stock market analyst at BCS World of Investments.
BCS World of Investment projects the ruble’s exchange rates on Thursday at 74.5-76.5 rubles per 1 US dollar, and 10.85-11.25 rubles per 1 Chinese yuan.
Freedom Finance Global projects the MOEX Index at 2,700-2,800 points on Thursday. The USD/RUB pair is expected to trade at the 75-77 rubles range, the EUR/RUB pair is projected at the 88-90 rubles range, while the CNY/RUB pair is expected at the 10.9-11.3 rubles range on April 16.
According to Tsifra Broker, the strengthening of the Russian ruble has stalled, though it is premature to talk about a reversal of the trend as there are no obvious prerequisites for it. Nevertheless, exchange rates may begin to consolidate near the current levels of 11-11.3 rubles per yuan, 75-77 rubles per dollar, and 88-90 rubles per euro.