The dollar reached 74 rubles for the first time in more than a year


Moscow. January 6. The ruble strengthened decline, the dollar for the first time in December 2014 rose by “Moscow exchange” to 74 rubles. in the context of increased world prices on oil and the deteriorating mood on the capital markets.

The dollar reached 74,0 rubles/$1 at 11:14 Moscow time, adding of 68.5 kopecks to the previous closing. Euro at this point was worth 79,43 rubles/EUR1, adding 71 kopecks.

The dollar is making new highs in December 2014, more than a year, while the Euro, which dipped significantly in early trading in 2016, remains below marks the end of 2015. The dollar gained for the period from the beginning of the year of 0.91 rubles (1,2%), Euro – fell by RUB 1,005, i.e. 1.25%, according to experts of “Interfax-CEA”.

The fall of the ruble on Wednesday morning is associated by experts with a strong decline in oil prices. The cost of the February futures for Brent crude on London’s ICE Futures exchange at 11:10 Moscow time fell by more than 1%, to $35,9 per barrel, the prices are near lows of around 11 years.

Another factor of pressure on the ruble may be the depreciation of the yuan. The people’s Bank of China on Wednesday set a reference rate of the yuan to the dollar at the lowest level since April 2011, Bloomberg reported. Reference rate is set at 6,5314 yuan/$1, which is 0.22% below the final level of the previous auction. The so-called offshore yuan (auctions which are held outside mainland China) declined in Hong Kong also by 0.5% to 6,6775 yuan/$1. Both courses are for a minimum of five years.

Negative attitude brings the ruble and the decline in the stock market, the key indices of the Russian stock market (RTS and MICEX) are trading in the red on Wednesday morning.