Moscow. December 7. The US dollar and the Euro on Monday evening moderately grow on “Moscow exchange”, new highs since the beginning of autumn; the ruble is weakening because of strong fall in world prices of oil.
The dollar exchange rate amounted to $ 68,906 rubles/$1 at 19:00 Moscow time on “Moscow exchange”, which is 77.1 copecks above level of closing of previous trading day. The Euro to this point was 74,77 rubles/EUR1, adding 71 cents. The value of the currency basket ($0.55 and EUR0,45) rose 74 cents, to 71,545 ruble.
The ruble fell against the dollar and the Euro at the opening of trading on the “Moscow exchange” on Monday, retreating in the face of continuing decline in world oil prices. During the day the ruble strengthened the fall, September 8 exceeded 69 rubles. In the course of trading the dollar rose to 69,178 rubles/$1, adding at this point a little over 1 ruble, Euro night reached the mark of 75 rubles/EUR1.
The reason for the drop
The reason for the retreat of the ruble experts call the continuing increase of oil drop after the decision of the Organization of countries-exporters of oil (OPEC) of maintaining actual production volumes of oil, amounting to about 31.5 million barrels a day (b/d). The members of the cartel agreed not to set quotas before its next meeting in June 2016. The decision Friday by OPEC, means that “everyone can do what I want”, said the Minister of oil of Iran Bijan Zanganeh assessing the excess supply in the market at $2 million. Iran is prepared to boost production immediately after the lifting of international sanctions against the country.
Quotes January futures on the mark Brent on London’s ICE Futures exchange to 19:00 (Moscow time) fell by 3,47%, to $41,51 per barrel. This is the lowest level since March 2009. The contract prices for mark WTI for January in electronic trading on the new York Mercantile exchange (NYMEX) decreased by this time by 4.25% to $38,27 for a barrel, the lowest level since August 25 of this year.
The result of the index session of the Moscow exchange (part of the session dollar calculations “tomorrow” in the period from 10:00 to 11:30 Moscow time ) was the increase in the CBR official rates of dollar and Euro on Tuesday. The dollar was raised by 84,58 cents, to 68,5156 rubles/$1, the EUR 73,58 cents, to 74,4079 rubles/EUR1.
Weighted average dollar exchange rate calculations “today” at the auction of the Moscow stock exchange rose by 1.12 ruble against Friday and totaled 68,6652 rubles/$1. Weighted average dollar exchange rate on the session by calculations “tomorrow” to 19:00 Monday added 1.03 ruble against the 4 December and amounted to 68,8058 rubles/$1. Trading volume in dollars to this point was $5 billion 536,856 million, of which $1 billion had 466,323 million on transactions with settlements “today” and $4 billion 70,533 million on transactions with calculations “tomorrow”.
The weighted average Euro rate calculations “today” has grown on 78,85 kopecks relative to Friday – to 74,2665 rubles/EUR1. The weighted average rate of Euro calculations “tomorrow” to 19:00 Monday 67,19 added a penny against the 4 December and amounted to $ 74,448. RUB./EUR1. Trading volume of the Euro by this time totaled EUR475,651 million, of which EUR215,599 million had transactions with settlements “today” and EUR260,052 million on transactions with calculations “tomorrow”.