The ruble rose sharply against the dollar and Euro on Friday

The ruble rose sharply against the dollar and Euro on Friday

Moscow. January 22. The dollar and the Euro fell on the Moscow stock exchange in early trading Friday, the ruble is growing, supported by a strong upward correction of oil.

The first transactions in us dollar were held on Friday in a wide range 80,26-82,09 ruble, on average over fifteen minutes the rate was 80,62 ruble (-2,01 of the ruble to the level of the previous close). Amounted to euros in early trading on average 87,27 of the ruble (ruble -2,73). The bi-currency basket amounted to $ 83,61 of the ruble (ruble -2,33).

The dollar was nearly 3 ruble below the current official rate of Euro 3.9 ruble below the current exchange rate of the CBRF.

The rapid growth of the ruble on Friday morning is a correction after the sharp fall in the previous days, experts say. The growth was driven by strong increases in oil prices, which are adjusted on Friday after an excessive drop on Thursday.

Oil quotes are growing, even in spite of the published data about the increase of oil reserves in the United States. According to the U.S. Department of energy, commercial oil reserves in the country last week rose by 3.98 million barrels. Analysts polled by Bloomberg, expected a more moderate increase of 2.2 million barrels. Reserves of gasoline in the U.S. increased by 4,56 million barrels, while distillate inventories declined by 1.02 million barrels.

The price of March futures for Brent crude on London’s ICE Futures exchange to 8:00 Moscow time has grown on 0,9% – to $29,51 per barrel; then the growth continued, and by 9:20 Moscow time the prices have risen about 5% of close to $31 per barrel, it is the maximum for the week.