Exchange rate of the Euro during trading on the Moscow stock exchange fell below 66 rubles, follows from the data of the auction. At a minimum at 19:05 GMT it down to the level of RUB for 65,94 Euro. The dollar also fell during the auction and declined to the level 62,53 at 19:05 GMT.
Earlier, on December 9, exchange rate of the Euro fell below 67 rubles. for the first time in a year and a half. Below 67 rubles. the European currency has fallen by only 31 July 2015. Then the Euro dropped during mid-day trading mark to 65,61 RUB for Euro.
The depreciation of the Euro against the ruble, analysts attributed to the increase in oil prices on Friday, as well as the reaction of market participants on the meeting of the European Central Bank (ECB) on December 8. On Friday, the price of a barrel of Brent oil on the ICE futures exchange was down to $53,78 per barrel. At high oil prices rose to $54,42.
The ECB on Thursday extended its quantitative easing program in the Eurozone until the end of 2017. With April it was decided to reduce monthly volume of interventions from €80 to 60 billion As announced on Thursday, the ECB President, Mario Draghi, the question about the tapering of quantitative easing by the regulator was not even discussed. “Investors were enthusiastic about these words — stock prices are rising and the Euro and the yield on short-term bonds of Eurozone countries decrease” — analysts write Sberbank CIB in the daily review.
In addition, this decision is another evidence of the multi-directional policy of the fed and the ECB, which again was evident by the end of this year, I believe at Sberbank CIB. “In the coming months the pair EUR/USD may target a level of 1.00”, — analysts say (on Friday evening, the pair was trading on the Moscow exchange at around 1,0541).
The ruble also continues to support the growing oil prices and the announcement of the transaction on the shares of “Rosneft”, they write.
The market’s attention has already switched to next week, when there will be a meeting of the U.S. Federal reserve, which the Governor will almost certainly raise the base interest rate, said the chief analyst of Nordea Bank Olga Lapshina. This step may also put pressure on the Euro, she said.
On Saturday, December 10, will have a meeting of representatives of OPEC and countries that are not included in the cartel. On 30 November, members agreed to reduce oil production to 32.5 million barrels. a day.
Thursday, December 8, the Euro amid the ECB’s decision to keep the base rate at 0% fell to the lowest level since the beginning of 2016, falling below $ 67,35 RUB.