The dollar fell below 70 rubles for the first time since December 24

The dollar fell below 70 rubles for the first time since December 24


MOSCOW, March 10. The dollar on the Moscow stock exchange fell below 70 rubles for the first time since December 24.

The Euro has fallen in comparison with level of closing previous trading at 1.36 kopecks and amounted to RUB 75,87, falling below the mark of 76 rubles. for the first time since December.

The ruble is growing, despite a corrective decline in oil prices. The cost of futures for oil of mark Brent with delivery in may 2016 on the stock exchange ICE in London fell by 0.73% to $40,77 per barrel.

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The Russian currency has accelerated the consolidation of the expansion of the program to stimulate the Eurozone economy from ECB. So, the ECB unexpectedly cut its benchmark rate to zero to 0.05% per annum. In addition, the marginal rate was cut to 0.25% from 0.3%, and Deposit rate was lowered to minus 0.4 percent from the previous minus 0.3%.

Most analysts surveyed by Bloomberg had expected the preservation of the ECB rate unchanged and reduced the Deposit rates to minus 0.4 per cent. In addition, the volume of asset purchase program by the ECB from April will be expanded to €80 billion a month to €60 billion per month.

Pessimistic forecasts for economic growth and Eurozone inflation forced the European regulator March 9, 2015 to launch the quantitative easing program. Before today’s ECB meeting, the volume of the asset repurchase program was 60 billion euros per month.