The Euro fell below 76 rubles on the news from the ECB

The Euro fell below 76 rubles on the news from the ECB


Moscow. March 10. The Euro strengthened against the ruble decline, falling below 76 rubles after the decision of the European Central Bank (ECB) base rate to zero.

The Euro retreated in 16:01 GMT until 75,875 ruble, which is 2,355 ruble below the previous close. The dollar was holding around 70 ruble, by 1.14 ruble below the previous close.

The strengthening of the Euro was formed after reports that the ECB unexpectedly cut its benchmark lending rate to zero level at 16:45 GMT. This caused the fall of the single European currency to the dollar, the Euro has lost about one shapes, stepping back to $1,086.

The ECB lowered its Deposit rate from minus 0.3% to minus 0.4% and reduced the rate on margin loans by 5 basis points, to 0.25% per annum. The ECB’s actions further support the global markets with cheap liquidity, say experts “Interfax-CEA”.