The dollar and the Euro rose moderately against the ruble in early trading environment

Moscow. December 16. Dollar and Euro grow moderately against the ruble on the Moscow stock exchange at the opening of trading on Wednesday, the ruble declines against the currency basket amid renewed decline in world oil prices.

The first transactions on dollar passed on Wednesday within 70,15-70,40 of the ruble in the first minutes of trading, the rate was 70,225 ruble (+28,4 penny to the previous closing mark). Euros in early trading ruble 76,878 (+45,8 penny). The bi-currency basket amounted 73,22 ruble (an increase of 36 cents).

However, the dollar was at 60,45 a penny below the current official rate, Euro at 1.35 ruble below the official rate.

According to experts of “Interfax-CEA”, the moderate decline of the ruble in early trading on December 16, is primarily due to a renewed decline in global oil prices. Futures for Brent crude on London’s ICE Futures exchange at 10:00 Moscow time fell by 0.83% to $38,13 per barrel. Futures price for WTI crude oil in electronic trading on the new York Mercantile exchange (NYMEX) fell by 0.91% to $37,01 per barrel.

Emerging on the eve of rebound up prices in the oil market have stalled after leaders of the U.S. Congress reached a compromise on a bill that will allow continued financing of the U.S. government, as well as remove the ban on oil exports.

OPEC General Secretary Abdullah al-Badri believes that the U.S. decision will not affect the world market.”The net effect from the export of American oil to market will be zero. It will have no impact on prices, since the US is still importing country. They export some volumes, but they need to import the same amount from somewhere else,” he explained. According to him, the USA can export the “easy” oil from shale deposits and continue to buy abroad more “heavy” variety.