The dollar fell below 75 rubles, Euro below 82 rubles

The dollar fell below 75 rubles, Euro below 82 rubles

MOSCOW, January 29. The dollar against the ruble on the Moscow stock exchange during the auctions has fallen in comparison with level of closing of previous trading day on 1,41 rubles and amounted to 74,98 of the ruble, falling below the mark of 75 rubles.

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The Euro fell to 1.77% 81,73 of the ruble, pushing down the 82-ruble level.

The ruble strengthened after oil. The cost of futures for oil of mark Brent with delivery in March 2016 on the ICE stock exchange in London rose by 2.4% to 34.7 per barrel

Despite the strengthening of the rouble seen over recent weeks following the rise in oil prices, the fundamental factors affecting the exchange rate, not a cause for optimism, warns the Professor of the Department of economic theory, REU them. G. V. Plekhanov Alexander Sigarev. “It is likely that the increase in the prices of oil futures that occurred on Thursday, after statements by the Minister of energy of Russia Alexander Novak about the planned negotiations with OPEC to reduce oil production, will be offset by Friday’s decline,” – said the expert.

Novak on consultations with OPEC to reduce oil production

Before the price of oil accelerated after the energy Ministry of Russia Alexander Novak about the readiness to personally take part in the upcoming February meeting of OPEC and other oil producers. The subject of the upcoming February consultations of the representatives of OPEC and outside it is the Union of producers of oil would be to reduce production to 5% of each of the countries, said Novak.

“Actually, when we were still at the previous meeting, the consultation was discussed, it was generally not about the Russian Federation, in General, countries that extract and export oil – such about settings and sounded on the reduction of production of each country to 5 percent,” said Novak.

He noted that the issue “is not straightforward”. “There’s a lot of questions reduction control, from which base to consider. To begin these questions to work, you need General agreement, too early to tell. Is the subject of meetings and discussions (in February),” said the Minister.

Expert opinion

Author: Konstantin KORISHCHENKO

Novak also said he was ready to personally participate in the upcoming February meeting of OPEC and other oil producers, however until the question of at what level the meeting will be held, not resolved.

“There is an invitation to meet at the Ministerial level. But actually there is no final agreement. If all Ministers will confirm, we will be at the Ministerial level, if not at the expert level,” said Novak.

See also

From high to collapse: the dynamics of oil prices since 2000