Euros exceeded 77 rubles on the background of falling oil

Moscow. December 11. INTERFAX.RU Euro exceeded at the auction “Moscow exchange” the mark of 77 rubles for the first time since 14 September, the dollar reached 70 rubles for the first time since August 25 amid the continued fall of oil.

The US dollar was worth 70 rubles/$1 on “Moscow exchange” in 17:51 Moscow time, an 85 copecks above level of closing of previous trading day. The Euro to this point was worth 77,092 rubles/EUR1, up 1.46 ruble. The value of the currency basket ($0.55 and EUR0,45) rose by 1.13 ruble to ruble 73,19.

The depreciation of the exchange rate of the ruble was marked from the first minutes of trading on the “Moscow exchange” on Friday, which was associated with a renewed decline in world oil prices on the background data about the increase in OPEC production in November.

Oil prices that have lost this week more than 8%, the highest since March – reinforced the decline in the second half of the day on Friday. Investors fear that the actual refusal of the Organization of countries-exporters of oil (OPEC) from realistic production quotas will lead to the preservation of overproduction on the world level. The cost of the January futures for Brent crude on London’s ICE Futures exchange at 17:55 Moscow time has fallen to 2,34% – to $38.8 a barrel. Futures price for WTI crude oil for January on the new York Mercantile exchange (NYMEX) decreased by this time by 2.2% to $35,95 per barrel. Such a long period of decline in the crude oil market it was not observed since March of the current year.