The dollar and the Euro soared to new highs for 13 months

The dollar and the Euro soared to new highs for 13 months

Moscow. January 18. The dollar and the Euro soared at the opening of trading Monday on the Moscow stock exchange to new highs since December 2014, the ruble weakened on falling oil prices.

The first transactions on dollar were in the range 78,05-78,645 ruble, on average over fifteen minutes the rate was 78,49 ruble (+89 kopecks to the previous closing mark). The Euro thus reached to 85.5 rubles (+82 kopecks). The bi-currency basket amounted to $ 81,645 rubles (+85 kopecks).

Both currencies update the highs since December 2014. The dollar was about 1.9 rubles above the level of the current official rate of Euro 2.2 rubles above the current exchange rate of the CBRF.

The rise of the dollar and the Euro against the ruble is explained by the strengthening of the falling prices of oil because of the lifting of sanctions with Iran, about which it became known during the weekend.

Oil prices fell in early trading on Monday after the weekend removing international sanctions against Iran. The price of March futures for Brent crude on London’s ICE Futures exchange fell this morning to its lowest since the end of 2003 to $27,67 per barrel, according to data by Bloomberg. By 10:00 MSK contracts offset part of the loss of European oil trading at $28,3 per barrel, down more than 1%.