During the evening trading currencies on the Moscow stock exchange the Euro for the first time in 2016 fell below 72 rubles. At a minimum, the European currency fell to 71,9 RUB 86,5 kopecks below the closing level on Monday. The last time cheaper Euro on the Moscow exchange was worth 3 December 2015, when the rate fell to 71.4 RUB.
The dollar on the Moscow stock exchange today declined to 63.8 RUB 49,75 kopecks below the closing level of the previous trading session.
The ruble strengthened against the background of falling oil prices. During today’s trading on the stock exchange ICE cost of a barrel of Brent dropped to $49,48, which is 2.3% below the closing level of the previous trading session.
Analysts attribute the strengthening of the ruble with the approach of the tax period.
“Large exporters are still quite active in anticipation of tax payments; and probably this contributes to the possibility of the victory of supporters of the EU in a referendum in the UK. If they win, the British pound and the Euro will rise and the dollar will be under pressure. Along with improving demand for risky assets that should support oil prices and contribute to the strengthening of the ruble. In the short term, given the likelihood that the UK will remain the EU, the pair [the us dollar] may target the recent lows of 63,40,” — noted analysts at Sberbank CIB Tom Levinson and Iskander Lutsky.
For 18.40 MSK Euro on the Moscow stock exchange was corrected to 71,9775 rubles, the dollar came back to around 63,94 RUB.