Financial news

The expert: the euro will go down in value in one week to 43 roubles

10 апреля 2009 г.

The official dollar rate of the Central Bank of the Russian Federation is raised by 10 kopeks on the weekend and Monday from 33,5334 to 33,6309 roubles. The euro rate was dropped by 43 kopeks from 44,586 roubles to 44, 1607 roubles. These data were placed on the web-site of the Central Bank of the Russian Federation.

According to predictions of FxPro financial analyst Alexander Kuptsikevich, by the end of the next week the dollar will increase against the rouble to 34-34,30 rouble and the euro rate will on the  contrary decline to 43 roubles.

As mentioned by Kuptsikevich, it would be linked with the trends observed in the European economy and in the international monetary market.

Thus “euro-dollar currency pair” on Forex is under considerable pressure now. According to the expert, it’s related to the fact that Ireland, one of countries of the euro zone, had to take refuge in the reduction of budget expenditures to meet the strict standards of the European Union. Even child benefit and redundancy payments were cut, many infrastructure development projects were frozen.

Kuptsikevich supposes that other countries of the euro zone can follow the lead of Ireland. “Ireland was the first with such problems but far from being the last country in the single currency zone. In relation with it the euro soundly goes down nearly along the whole market “,  the analyst clarifies.

According to his predictions, within next weeks the decline of the single currency to $1,25 for euro can be observed. By the end of the next week the “euro-dollar currency pair” can decline to $1,27 - $1,28.
 

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