LONDON, 9 October. The price of a futures contract with November delivery for Brent crude oil at today’s auction of the London exchange ICE increased by 1.8% to $54,01 per barrel, surpassing the mark of $54.
Against this background, the ruble strengthened on Friday. So, the dollar during today’s trading on the Moscow stock exchange fell below 61 rubles for the first time since July 31.
In particular, as of 13:50 Moscow time the dollar fell by 39 kopecks to RUB 60.98 rubles, and the Euro by 1 kopeck to RUB 69,12 Earlier today, the Euro fell below 69 rubles for the first time since 5 August.
The minutes of its September meeting the fed allow to conclude that even a later and gradual increase in interest rates in the U.S. than previously expected, says analyst IK “Veles Capital” Alexander Kostyukov. “Reducing concerns about imminent rate hikes in the U.S. also played a role in the next strengthening of oil that will be played today in the Russian market. The strengthening of the ruble, apparently, will continue the rally in the shares of the financial sector,” he said.
If the pair ruble/dollar will be aimed at the mark of 60 rubles, or falls below this level, will increase the likelihood of a resumption of purchases of foreign currency by the Central Bank of the Russian Federation, says a senior strategist at Sberbank CIB Vladimir Pantyushin.
“Given the increased probability of interventions, we expect that the strengthening of the ruble will fall short of the growth of quotations, and the price of oil in ruble terms will increase”, – the expert believes.