The exchange rate of the dollar at the opening first in may 2016 trading on the Moscow stock exchange soared more than 2 rubles On the maximum value of the dollar rose to 66,799 RUB, RUB 2.17 higher than the close on April 29th and is the highest reading since April 25.
The Euro on the Moscow stock exchange has shown an even larger increase. On the high cost of the European currency jumped today 76,699 to RUB, RUB by 2.68 higher than the level achieved by the final the previous trading session. So expensive Euro was not worth 18 April 2016.
The decline in the ruble exchange rate reflects the fall in oil prices that occurred over that time while in Russia celebrated may day holidays. 29 APR Brent trades on the ICE exchange closed above $48 per barrel, but from 1 to 3 may, oil prices fell continuously and on Wednesday, a barrel of Brent on the ICE is only slightly more than $45.
“The risks of further rollback of oil prices in the short term remain, but we note that the price doesn’t look overheated from a fundamental point of view: the range of $42-44 per barrel. it may act as a support in the middle of the week in the absence of further negative news from the US and due to sustainable hopes for a better summer in the market” – the analyst of PSB Evgeny Loktionov. The decrease in quotations during the first three days of may, he connects with the deficit news drivers for growth, and a decline in investor risk appetite.
By 10:25 the cost of a barrel of Brent was $45,09, the dollar on the Moscow stock exchange was corrected to the level of 66,269 Euro and reached $ 76,158 RUB.