During morning trading the ruble on the Moscow stock exchange fell sharply amid falling oil prices, which brought official rates of dollar and Euro more than monthly highs
The official rate of Euro established by Bank of Russia since may 6, 2017, upgraded to 64,2398 RUB, RUB 1.51 higher than the previous value. Above 64 RUB the official Euro rate rose for the first time since February 3, 2017.
Simultaneously, the Central Bank made the decision to raise the official dollar exchange rate on 96,68 COP. 6 may, the Central Bank set the dollar rate will amount to RUB 58,5382 above 58 RUB rate rose for the first time since March 17, 2017.
The jump in exchange rates were recorded in the course of morning trading on the Moscow exchange on the background of a sharp decline in world oil prices. On Friday, the price of a barrel of Brent on the ICE exchange fell to $46,65, which is 3.5% below the closing level of the previous trading session, which led to the weakening of the ruble.
The maximum dollar on the Moscow stock exchange reached on Friday, mark 58,8225 Euro — 64,625 RUB But then oil prices returned to growth and the ruble managed to win back most of the losses.
“The ruble is reminded that it is the commodity currency. Further dynamics of the ruble will remain at the mercy of oil prices, the subsequent reduction of which cannot be excluded, taking into account current data on the number of drilling rigs in the United States, as well as the reaction of the dollar on the jobs report USA”, — stated in the report of analysts of Nordea Bank.
By 13:50 Moscow time the cost of a barrel of Brent was us $of 48.58, the dollar on the Moscow stock exchange reached 58,4197 Euro — 64,051 RUB.