On the Moscow exchange has accelerated the decline of the dollar. Immediately after opening it has updated the annual minimum, for the first time since October last year, dropping below 61.5 rubles For the next two hours, the dollar fell by 50 kopecks, reaching the minimum mark style, 60,95 RUB compared to the end of Friday, 9 December, the dollar fell more than 1.5 rubles., cheaper than 61 rubles. the dollar on the Moscow stock exchange worth for the first time since October 16, 2015.
At about the same rate fell and the Euro dropped to 64,49 RUB 2.36 per cent below the closing level of the previous trading session.
Strengthening of ruble happens against the backdrop of rising world oil prices after OPEC agreements with non cartel countries to limit oil production. During today’s trading, the price of a barrel of Brent crude on the ICE futures exchange rose to $57,52.
“To limit the strengthening of the Russian currency can now only CBR, which should take some effort. This may be reduced rates or currency purchases, which is generally planned when the price of oil at $55 per barrel In connection with the strengthening of the ruble appears to us to be limited by levels of 60.5–61 rbl./$.”, — the forecast of Nordea Bank.
However, experts warn about the possibility of a quick pullback in oil prices, which may be followed the fall of the ruble.
“Roll to the end of the week to $55 per barrel is not something impossible. On the contrary, subside when the first optimism, on the surface there will be a new questions regarding the transaction, including unpredictable countries not joined the cartel and definitely hoping to get the maximum benefit, but also the lack of clear control over the implementation of the agreements reached by OPEC. In the longer term, can be unpredictable and the US position — within the constraints the country is quite able to begin expansion into world markets with its own slate,” — said in the Bank’s forecast of GBS.
By 12:40 Moscow time the price of a barrel of Brent crude on the ICE futures exchange was $56,88, the dollar on the Moscow stock exchange reached 61,1075 RUB, EUR — RUB of 64.71
Official rates of dollar and Euro by 13 December 2016, the Central Bank lowered about 2 RUB the dollar on Tuesday set at the level of 61,5804 RUB (RUB -1,72), the Euro at RUB 65,072 (-2,13 RUB).