Moscow. April 26. The U.S. dollar and the Euro rising on the Moscow stock exchange on Wednesday afternoon; the ruble strengthened decline against the currency basket on the background of the continuing fall in price of oil.
The US dollar made up 56,77 rubles/$1 in the 15:00 GMT, 59.8 kopecks above the closing level of the previous trading session. While the Euro was worth 61,82 rubles/EUR1, adding 38.5 penny. The cost of the currency basket ($0.55 and EUR0,45) rose to 50.2 cents, to 59,04 of the ruble.
At the end of the index session of the Moscow stock exchange (part of the session dollar calculations “tomorrow” in the period from 10:00 p.m.-11:30 GMT), the CBR increased the official rate of the dollar on April 27 at 46,78 cents, to 56,31 rubles/$1, and raised the Euro 71.2 cents, to 61,51 RUB./EUR1.
According to experts of “Interfax-CEA”, the ruble strengthened decline against the dollar and Euro in afternoon trading environment amid continuing fall in price of oil and the decrease in demand for ruble liquidity on the part of exporting companies due to the completion of major tax payments. The reluctance of players to open long positions on the ruble is also due to expectations of a possible reduction of the key rate of the Bank of Russia meeting on Friday and fears that the Russian authorities can start countering the strengthening of the national currency, which follows from the words of the President of Russia Vladimir Putin.
Oil prices reference marks down on Wednesday on fears of another increase in fuel stocks in the United States. Official data on reserves will be published by the U.S. Department of energy on Wednesday, and experts expect reduction of stocks of oil by more than 1 million barrels. However, as reported yesterday, the American petroleum Institute (API), oil stocks in the USA last week grew by 897 thousand barrels. The cost of June futures for Brent crude on the London ICE Futures exchange to 15:00 Moscow time has fallen on 0,78% – to $52,168 per barrel. Futures price for WTI crude oil for June on the electronic trading on the new York Mercantile exchange (NYMEX) decreased by this time by 0.73% to $49,2 per barrel.