The Euro fell to a low for the year

The Euro fell to a low for the year


Moscow. July 14. The ruble strengthened growth, the first time this year pushing on the Moscow exchange Euro to 70 rubles, then the dollar – up to 63 rubles, updating the lows for more than six months amid increased demand for rubles.

The Euro at 17:23 Moscow time has fallen to 70.0 rubles, having updated a minimum since November 30, 2015 and departing on 77 kopecks to the level of previous close. After a few minutes the dollar fell to 63 RUB, stepping back to 85 kopecks and also updating at least November 2015, i.e. more than six months.

The growth of the ruble contributes to the need of market participants rubles for dividend payments companies and banks to replenish the reserve funds.

At the same time, rising oil prices and very limited, which may constrain further strengthening of the Russian currency, say experts “Interfax-TSEA”. But the ruble could be supported by a political positive, likely in connection with the visit of U.S. Secretary of state John Kerry to Russia and his meeting with Russian President Vladimir Putin and foreign Minister Sergei Lavrov, they added.