MOSCOW, December 11. The Euro against the ruble on the Moscow stock exchange during the auctions has grown in comparison with level of closing previous trading session by 1.51 rubles to 77,14 rubles, surpassing the mark of 77 rubles. for the first time since September 14.
The dollar rose 85 cents and reached the mark of 70 rubles. for the first time since 25 August.
Oil prices and the ruble
The cost of futures for oil of mark Brent with delivery in January 2016 on the stock exchange ICE in London fell by 2.6% to $38.7 per barrel climbing above $39 per barrel for the first time since December 2008.
The ruble is falling and growth
About what will happen to the ruble, according to experts – special project
The reason for this trend was the data about the increase in OPEC production in November to its highest level in more than three years, says expert “BCS Express” Ivan Kopeikin.
“However, some hints of an upward correction still present and they are expressed in the first in a long time, the decrease in inventories in U.S. storage facilities. Let me remind you, according to the U.S. Department of energy, commercial oil reserves in the country decreased last week at 3,57 million barrels,” he said. The expert added that the pressure on the Russian currency continues to be weakness in the Chinese economy, as well as a high probability of a rate hike by the American regulator at the meeting of 15-16 December.
According to Deputy Minister of Finance Maxim Oreshkin, the Ministry of Finance sees no reasons to speak about the dollar at the level of 100 rubles. The Ministry expects the ruble, while maintaining the trends in the outflow of capital in 2016 and the price of oil is $50.
At the same time, the head of Department Anton Siluanov believes that the period of low oil prices will not last for long, but 2016 will be the most difficult for the global economy.
In turn, the head of the Bank of Russia Elvira Nabiullina said that the probability of preservation of price of oil below $50 a barrel has increased. According to her, the observed dynamics of oil prices reflects the increasing relevance of the macroeconomic scenario the Central Bank at an oil price of less than $40 per barrel.
Prices for Brent crude and the dollar
Prices for Brent crude and the dollar. Infographics