Trading currency on the Moscow stock exchange opened on March 9, the sharp rise in the dollar and Euro. At the peak of the value of the dollar reached the mark of 58,9775 RUB, at 79,75 kopecks. above the closing level of the previous trading session. At the same time the Euro for the first time this week rose above 62 rubles, reaching the maximum level 62,1275 RUB 59 kopecks. above the closing level on 7 March.
The weakening of the ruble followed the incident in the Wednesday collapse of world oil prices. During yesterday’s trading session on the stock exchange ICE cost of Brent crude oil fell amid an increase in reserves and production in the United States by more than 5%, the day the barrel fell by almost $3. Trading currency on the Moscow stock exchange yesterday was not conducted in connection with the celebration of International women’s day, however on the OTC market, the ruble has declined by about 1%.
“Speculators today may continue to play against the ruble, but the effect on the course will be determined by the activity of local investors and exporters,” — predicted in anticipation of the opening of trading on Thursday, ING chief economist Dmitry Polevoy.
Today’s auction of oil on the ICE futures exchange opened with growth of quotations. The cost of a barrel of Brent is around $53,5, remaining above the closing level of the previous trading session.
“While we expect stabilization and a gradual return to $55/barrel. considering this [yesterday’s] decline as excessive. In addition, we believe that in March will begin to unload stocks in the United States because the end of the season technical regulations” — said the analyst PSB Ekaterina Krylova.
By 10:30 MSK cost of a barrel of Brent crude on the ICE futures exchange was $53,36, the dollar on the Moscow stock exchange reached 58,9225 Euro — 62,025 RUB.