Moscow. March 1. The Euro trades Moscow exchange fell to 80 rubles for the first time since January 6, the dollar is also trading at all-time lows 6 Jan – at 73.7 ruble, according to experts of “Interfax-CEA”.
The Euro was 80 ruble at 12:55 MSK, which is 1.84 ruble below the previous close of trading. The dollar by this time was slightly below $ 73.7 ruble lost 1.5 rubles. The value of the currency basket ($0.55 and 0.45 euros) decreased by 1.65 ruble to ruble 76,53.
Experts attribute the growth of the ruble in early trading with the continuing increase in oil prices, which increased growth at the auctions on Tuesday.
Price of may futures for Brent crude on London’s ICE Futures exchange was $36,62 per barrel at 12:56 GMT, up 0,14%. Futures price for WTI crude oil for March in electronic trading on the new York Mercantile exchange (NYMEX) had risen by this time on 0,68% – to $33,98 per barrel.
More significant strengthening of the ruble to the Euro is associated with a reduction of the single European currency against the dollar in the global Forex market, where Euro dropped to $1,0855.
Oil quotations grow despite weak statistics from China. The official PMI for the processing industry, published by the statistical authorities of China, fell last month to a four-year low of 49 points against to 49.4 in January.
Experts believe that the rising oil prices can be explained by the fall of oil production by OPEC in February, as well as information about the accident on the export pipeline in Nigeria. As previously reported, oil production by OPEC in February decreased by 280 thousand barrels per day compared with January. The decline is associated with the situation in Iraq, where previously the shipments from the Northern Kurdish regions.