The Euro on the Moscow stock exchange exceeded 74 rubles

The Euro on the Moscow stock exchange exceeded 74 rubles

MOSCOW, December 3. The Euro against the ruble on the Moscow stock exchange during the auctions has grown in comparison with level of closing of previous trading day 2.54 74,15 RUB RUB, having increased to this level for the first time since early October.

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© Sergey Konkov/TASS

The CBR raised on 4 December, the dollar exchange rate to 67,77 rubles, the Euro to ruble 71,74

The dollar traded near a mark of 68 rubles.

Why expensive European currency

The Euro’s gains accelerated during the press conference following the ECB meeting, where ECB President Mario Draghi announced that the ECB decided to extend the stimulus program at least till March 2017 Previously the asset purchase program was expected to hold until September 2016.

According to him, the ECB will reinvest the interest income received from the asset purchase program. The list of assets subject to repurchase, will be expanded. In the number of the redeemed bonds will include securities of regions and municipal bonds.
Draghi once again stated that the asset purchase program has sufficient flexibility and can be adjusted if necessary.
Pessimistic forecasts for economic growth in the Eurozone and inflation has forced the ECB on 9 March to launch a program of quantitative easing. The volume of asset purchase program of 60 billion euros per month.