The ruble strengthened against the dollar and Euro on the speeches of Putin and Medvedev

Moscow. December 9. The US dollar and Euro decrease on the Moscow exchange on Wednesday evening; support the ruble has had a growing within the correction of the world prices for oil, as well as verbal interventions of Russian President Vladimir Putin and Prime Minister Dmitry Medvedev.

The US dollar was worth 69,029 RUB on “Moscow exchange” at 19:00, 37.1 kopecks below the closing level of the previous trading session. The Euro to this point was worth 75,709 rubles, dropping by 2.1 pennies. The value of the currency basket ($0.55 and EUR0,45) fell by 21 kopecks to the ruble 72,035.

The ruble rose slightly against the dollar and Euro on the Moscow stock exchange at the opening of trading on Wednesday in response to correctional growth of the world prices of oil. However, by mid-day courses of both currencies returned to the levels of the previous day’s close amid lack of further increase in the oil platforms.

In the evening the price of oil imports increased rise after the publication of data on the reduction of commodity stocks of fuel in the United States. The January futures for Brent crude on London’s ICE Futures exchange to 18:33 has risen to $is 41.45 per barrel (almost 3%), but then the growth was more modest – up to $41 per barrel. Quotes of WTI oil futures for January on the system of the new York Mercantile exchange (NYMEX) jumped 3.3% to $measuring 38.76 per barrel. For the previous three session, WTI crude oil fell by 8.7%, Brent – 8.2%.

“Today on the domestic foreign exchange market and strengthening of the ruble against the dollar and against the Euro, which has been the result as a corrective rebound in oil prices and positive verbal interventions made today by Dmitry Medvedev and Vladimir Putin. However, at the end of the week, the dollar can drop to 68 rubles, Euro – 73 rubles.. But excessive strengthening of the ruble should not be expected, as external factors remain negative for the national currency”, – commented on the situation on the market senior trader GLOBEXBANK Vitaly Markov.

In an interview with Russian TV channels, Prime Minister Medvedev said that the anti-crisis plan of the government worked – the decline of the economy stopped, and next year should see her growth. According to him, anti-crisis plan helped to withstand the most difficult period, and its implementation has produced results in all areas.