MOSCOW, 4 February. The dollar in early trading on the Moscow exchange fell 1.1 of the ruble relative to the closing level yesterday to the level of 75.8 per ruble, while the Euro lost 1.4 rubles, having fallen to a mark of 84 rubles.
Amid growing ruble dollar-denominated RTS index soared to 5,91% to 738,19 item.
Author: Konstantin KORISHCHENKO
The growth of the Russian currency comes amid a sharp rebound in oil prices up. So, on Thursday the cost of futures for oil of mark Brent with delivery in April 2016 on the ICE stock exchange in London rose 1.7% to $35,65 per barrel. At the same time before the price of Brent crude dropped below $33 per barrel.
Weak data on business activity in the services USA (ISM Non-manufacturing PMI) published on Wednesday evening, became the basis for the weakening of the US dollar on the foreign exchange market that caused the rise in dollar prices of commodities, explains the dynamics of the market, leading analyst of investment group “OLMA” Anton Startsev.
“The chances of rate hikes in 2016 fell sharply, and it is possible that the U.S. Federal reserve will have to further postpone the increase until better times. All of this medium can support the oil prices but in the end, and the ruble, which we see today in the morning,” adds chief economist for Russia and CIS ING Bank Dmitry Polevoy.