Euro exchange rate for November 2020 by days

2024 Author: James Gerald | [email protected]. Last modified: 2024-01-18 00:05

The current economic situation in the world does not yet allow analysts to make long-term forecasts regarding the euro exchange rate in November 2020, but nevertheless, some of their assumptions should be considered more carefully.

What can affect the euro exchange rate

Leading experts of the largest Russian banks, including the Central Bank of the Russian Federation, conducted an in-depth analysis of the situation and published preliminary data regarding the quotes of the European currency, which were reflected in the table by day.

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Experts identify several factors that can affect the rates of all world currencies, including the euro.

1. Consumer price index, inflation rate. Experts analyze indicators of inflation rates, as well as price dynamics in large EU countries: Germany, France and others. The results obtained allow us to determine the approximate behavior of the European currency in the coming months. Indicators higher than planned may indicate the strengthening of the euro, lower than planned - about the weakening of the European Union currency. At the moment, the picture is not very rosy, since the economies of the EU countries have not yet recovered from the coronavirus epidemic that swept the world. But according to experts, by the end of the year, the situation should be expected to stabilize, provided that the second wave of the spread of COVID-19 can be avoided.
2. Economic growth in the EU. As a rule, the European currency reacts sharply to GDP indicators, information on which is presented in quarterly reports. Now, due to the pandemic, there is a slight drop in GDP in European countries, so there is no need to expect a rise in currency prices yet.
3. The mood of the major players, optimistic expectations. A positive index of economic relations in the EU countries allows us to hope for the strengthening of the euro, negative - suggests a drop in quotations. Investors are not optimistic today, but in November everything can change with a bias in one direction or another.
4. Monetary policy vector. The Central Bank of Europe regularly announces information on the exchange rate of the national currency and holds meetings, where the main attention is paid to the speech of the head of the ECB. If his speech is filled with optimism, quotes rush up, and, conversely, alarming notes can dramatically change investor sentiment and bring down the rate.
5. Trade balance in the world and EU countries. At the moment, the reporting figures look more than pessimistic, as the global economy has fallen heavily against the backdrop of the pandemic. Perhaps, in the future, the balance will be able to stabilize, which will contribute to the strengthening of the euro.

The euro will get cheaper

Meanwhile, many analysts are not sure about the rapid recovery of the economies of the EU countries, therefore they predict a fall in the euro exchange rate against the Russian national currency. So, after a deep analysis of the current situation, the specialists of the APECON agency came to the conclusion that during November the quotes will be in the range of 75, 8-78, 5 rubles per unit, and by the end of the month the rate of the European currency will smoothly go down. Experts believe that the decline will continue until the end of this year.

The same point of view is shared by the specialists of the Russian service Sravn.ru, who conducted their own analysis and published a forecast for the second half of the year. According to leading analysts, the average monthly EUR rate in November will be about 74, 7 rubles, while it is allowed to fall to 71, 7, and growth to 76 rubles is not excluded. Thus, by the end of the year, the pan-European unit will become cheaper by about 4-8 rubles.

Sberbank financiers also spoke about the strengthening of the ruble against the euro, who had previously predicted the instability of a foreign unit, pointing to its minimum values of 69.1 rubles and predicting an increase in the exchange rate to 85.5 rubles. But recently the specialists of the largest Russian bank changed their forecasts towards improving the situation and stabilizing the national currency.

This, in their opinion, will be facilitated by the purchase of a controlling stake in Sberbank by the Government of the Russian Federation, as well as the elimination of the adverse consequences of the pandemic and the gradual recovery of the Russian economy. In turn, the European regulator is also trying in every possible way to support its currency and does not skimp on "stimulus packages" designed to improve the situation in the Eurozone. If the actions of the ECB are successful, the rate of the European unit will rise.

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Euro will rise in price

Not so long ago, the internet portal moneyruss.com published its own forecast for the euro exchange rate for November 2020. Analysts expect a rapid rise in the price of the European currency and are confident that by the end of the year its average value will reach 97.5 rubles, but during the month sharp fluctuations from 87.7 to 107.2 rubles are possible.

Nevertheless, Russian experts in the field of finance, including specialists from the Central Bank of the Russian Federation, are not so pessimistic and believe that sharp changes in quotations should not be expected. The table below, which was compiled by independent analysts, shows the expected dynamics of the price for 1 EUR in November by days.

date	Day of week	Euro to ruble exchange rate at the beginning of the day (until 11.00)	Euro to ruble rate at the end of the day (after 14.00)	Change of course during the day
01.11.2020	Sunday	0	0	Without changes
02.11.2020	Monday	75, 9	79, 12	Will rise
03.11.2020	Tuesday	79, 12	79, 16	Will rise
04.11.2020	Wednesday	79, 16	80, 9	Will rise
05.11.2020	Thursday	80, 9	82, 2	Will rise
06.11.2020	Friday	82, 2	82, 42	Will rise
07.11.2020	Saturday	82, 42	82, 42	Without changes
08.11.2020	Sunday	82, 42	82, 42	Without changes
09.11.2020	Monday	82, 42	80, 47	Will go down
10.11.2020	Tuesday	80, 47	79, 18	Will go down
11.11.2020	Wednesday	79, 18	75, 9	Will go down
12.11.2020	Thursday	75, 9	75, 03	Will go down
13.11.2020	Friday	75, 03	71, 55	Will go down
14.11.2020	Saturday	71, 55	71, 55	Without changes
15.11.2020	Sunday	71, 55	71, 55	Without changes
16.11.2020	Monday	70, 38	69, 81	Will go down
17.11.2020	Tuesday	69, 81	68, 94	Will go down
18.11.2020	Wednesday	68, 94	68, 64	Will go down
19.11.2020	Thursday	68, 64	69, 38	Will rise
20.11.2020	Friday	69, 38	69, 81	Will rise
21.11.2020	Saturday	69, 81	69, 81	Without changes
22.11.2020	Sunday	69, 81	69, 81	Without changes
23.11.2020	Monday	71, 55	72, 64	Will rise
24.11.2020	Tuesday	72, 64	75, 14	Will rise
25.11.2020	Wednesday	75, 14	76, 77	Will rise
26.11.2020	Thursday	76, 77	78, 49	Will rise
27.11.2020	Friday	78, 49	80, 47	Will rise
28.11.2020	Saturday	80, 47	80, 47	Without changes
29.11.2020	Sunday	80, 47	80, 47	Without changes
30.11.2020	Monday	85, 03	82, 86	Will go down

Summarize

1. The world economy, seriously affected during the pandemic, is still unstable, so experts are afraid to make accurate forecasts regarding the euro exchange rate for the second half of 2020.
2. For the most part, experts predict a fall in the euro rate by autumn. Their confidence is based on the slow recovery of the economic model of the EU countries against the backdrop of the global crisis and the strengthening of the ruble.
3. The European Central Bank is trying in every possible way to support its currency, which should contribute to its strengthening.