The dollar fell almost 1 rbl. at the opening of trading

Wednesday, February 4, at the opening of trading on the Moscow exchange, the dollar fell to 98 kopecks. to 75,91 RUB, EUR — RUB 1.3 to RUB 84,09 the RTS Index by 11:15 Moscow time has grown on 5,9% to 738,19 points, the MICEX index gained 1.9% to 1779,7 points.

Brent crude oil for the same time gained 1.2% to $35,7 for barrel. On the eve of a barrel of Brent pogorzel nearly $3. The price for WTI crude oil yesterday also rose by 8%, rebounding to USD 32.5 per barrel.

The jump in world oil prices occurred against the background of a strong weakening of the U.S. currency. As noted by Bloomberg, citing its own Dollar Spot Index, the dollar’s decline was the steepest since March 2009. Index The Wall Street Journal (WSJ Dollar Index), reflecting the value of the U.S. currency against a basket of 16 foreign currencies, the decrease amounted to 1.7%, the biggest drop since March last year.

WSJ indicates that a weak dollar supports oil, which is traded in U.S. currency. Weakness makes oil cheaper for foreign buyers.

Thus, according to the U.S. Department of energy (EIA), last week the oil reserves rose by 7,79 million barrels, while the forecast growth at 4,76 million Production decreased by 7 thousand barrels per day, non-essential, but there is an obvious tendency to decrease, indicates the analyst of “KIT Finance Broker” Anna Ustinova. “Average oil production for the first time in years, stopped growing, stopped at 9,3124 million barrels a day,” she adds.

In addition to oil prices, the ruble is influenced by the actions of the Bank of Russia, says Ustinov. “The Central Bank continues to exert pressure on the foreign exchange market, undertaking measures to limit ruble liquidity,” she writes in her review.