Exchange rate of the Euro fell to the lowest since December 2015

The Euro against the ruble fell to its lowest level since the beginning of 2016. During the currency trading on Friday on the Moscow exchange value of European currencies fell to mark to 70,2975 RUB, RUB around 1.1 or 1.54% below yesterday’s closing level. So cheap Euro not worth it since the 2nd of December 2015, when it gave less than 70 RUB.

The exchange rate of the dollar also fell, dropping to the low mark to RUB It 63,715 85 kopecks or 1.3 percent below yesterday’s closing level.

The ruble strengthened against the background of correctional growth of oil prices, fell yesterday by more than 4%. During today’s trading on the stock exchange ICE cost of a barrel of Brent rose to $47,23, which is 1.8% above the closing level of the previous trading session.

“The intraday volatility of the price of Brent is significantly intensified, Recalling the situation in December — January. Monthly realized volatility in Brent has almost doubled compared to the lows of early January, which adversely affects short and long – term stability of prices. Probably the fact that the trading volume of the market decline, and speculators continue to close long positions on oil prices,” noted analysts at Sberbank CIB Dmitry Kolomytsyn and Iskander Lutsky.

Earlier, Bloomberg called the strengthening of the ruble is a barrier to the exit of the economy from the recession, and experts of VTB24 Bank predicted the decline of the ruble by 5-15% because of the budget deficit and the decline in oil prices.

To 16.15 MSK cost of a barrel of Brent was us $of 46.85, the Euro on the Moscow exchange reached RUB 70,9725, the dollar – 63,985 RUB.