Exchange rate of the Euro rose above 74 RUB

The Euro trades on the Moscow stock exchange on Tuesday for the first time since June 16 exceeded 74 rubles At the peak of the European currency during today’s trading on the Moscow exchange rose to the level of 74,0075 RUB, 1.04 RUB above yesterday’s closing level.

Simultaneously, the dollar rose 77,25 kopecks and reached the level of RUB to 66.7, the highest level since June 24, 2016.

The ruble weakens amid falling global oil prices. In the course of trading on the stock exchange ICE futures price for Brent oil for delivery in September 2016 Thursday for the first time since April 20 fell below $43 a barrel.

“The ruble for too long remained stable, not reacting to the dynamics of oil prices, so now the situation just comes to a certain norm. Given the state of the oil market and expectations for rate of the CBR, the ruble will continue to show weakness,” believes the first Deputy Chairman of the management Board of the Bank “Ugra” Yuri Melnikov.

By 16:50 Moscow time the cost of a barrel of Brent on the ICE stood at $of 43.16, the dollar on the Moscow stock exchange reached 66,5775 Euro — 73,89 RUB.