The exchange rate of the dollar for half an hour fell to 70 cents

The rise of the dollar on the Moscow stock exchange gave way to fall. During morning trading the dollar for the first time since the end of may 2016 rose above 67 rubles, but after lunch, the course began to go down and around 16:00 Moscow time has fallen sharply, losing about half an hour, about 70 kopecks. At the peak of the fall rate dropped to 66,37 RUB, 24.5 kopecks below the closing level of the previous trading session, and 93 kopecks. below the high of the day.

Simultaneously, the Euro fell by approximately 60 kopeks, having fallen to a mark for 74, 05 RUB. nevertheless, the Euro continued trading in the green zone.

The fall in the dollar and Euro has been accompanied by increased trading volume occurred on the background of the adjustment of oil prices dipping this morning below $42 per barrel. At the peak of the fall futures price of Brent oil with delivery in September 2016 fell to $41,83, however, during afternoon trading rose again to $42,2.

The head of the Treasury Metallinvestbank Selim Agarnaev refers to a sharp strengthening of the ruble within half an hour from 15:30 GMT a “technical correction.” According to him, it was provoked by the rising oil prices, and large purchases of foreign currency in the market last time were not traders did not want to buy dollars after strengthening mid — July the dollar has risen from 63 to 67 rubles. “It looks like a speculative closing positions, probably, the situation provoked one of the major players,” he says.

The sharp fall of the dollar began after the publication of the Bureau of economic analysis U.S. Department of Commerce data on U.S. GDP growth in the second quarter of 2016. According to official data, GDP growth amounted to an annual rate of only 1.2%, while surveyed by Bloomberg predicted that it will amount to 2.6%.

A currency trader “Renaissance Capital” Levon, Athanasian notes that after the release of negative statistics on the US GDP, the dollar began to weaken not only the Russian ruble, but also to all major currencies. According to experts, the main strengthening of the ruble is over and maybe now the dollar slightly strengthened against the ruble.

The drop in the dollar was short-lived. Hitting a low, the dollar has once again started to rise to about 16.50 GMT rose again to nearly 67 rubles.

By 17:00 Moscow time the dollar on the Moscow stock exchange amounted to 66,79 Euro — 74,6075 RUB.