The exchange rate of the dollar fell to the lowest in more than a year


Trading currency on the Moscow exchange commenced on 12 December 2016 the new strengthening of the ruble. After a few minutes of the dollar for the first time in more than a year fell below 61.5 rubles

At a minimum the value of the dollar fell to 61,49 rubles, which is 1.6% below the closing level of Friday’s trading. The last time below this level the dollar on the Moscow exchange fell 19 October 2015.

Simultaneously, the exchange rate of the Euro against the ruble fell below 65 rubles, reaching the minimum level 64,9525 RUB Is 1.66% below the closing level on 9 December 2016. So cheap Euro not worth it on the stock exchange since July 30, 2015.

Strengthening of ruble happens against the background of rapid growth of the world prices for oil. During today’s trading, the price of a barrel of Brent crude on the ICE futures exchange rose to $57,52, which is 5.8% higher than the level at which it closed the previous auction.

“The Russian market will also open growth, the ruble strengthened against other currencies,” said in anticipation of the opening of trading chief analyst of Bank “GLOBEKS” Victor Veselov.

At the same time Promsvyazbank analyst Ekaterina Krylova believes that in the near future, oil prices can return to $55 per barrel.

“The reduction in countries outside of OPEC was expected and almost fully priced in; still no clear guidance on how to monitor compliance with quotas; the decline will be gradual. The main risk supports the activation of the shale producers in the US when oil above $50-53 per barrel. to start actively to increase production”, — said the expert.

By 10:35 Moscow time cost of a barrel of Brent crude on the ICE futures exchange was $56,76, the dollar reached 61,595 Euro — 65,0825 RUB.

In early November 2016, Bloomberg experts called the ruble, “an extremely profitable” currency, explaining that this performance does not provide recent attachment to another of the three dozen major world currencies.

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