The ruble rose against the dollar and Euro in connection with the demand for ruble liquidity

Moscow. June 5. INTERFAX.RU US Dollar fall and the Euro on the Moscow stock exchange on Monday; the ruble is rising against the currency basket due to increased demand for ruble liquidity.

The U.S. dollar made up of 56.64 rubles/$1 at 19:00 GMT, which is only 2.25 kopecks below the closing level of the previous trading session. While the Euro was worth of 63.73 rubles/EUR1, down 18.5 pennies. The cost of the currency basket ($0.55 and EUR0,45) fell by 9.6 penny, slipping to 59.83 ruble.

According to experts of “Interfax-CEA”, despite the decline in oil prices, the ruble rises against the dollar and the Euro due to increased demand for ruble liquidity of Russian banks that need to increase the amount of funds on correspondent accounts with the CBR in connection with the completion Tuesday of the averaging period. The fall in oil prices reference marks on Monday more than 1% because of rising political tensions in the middle East. Quotation of the August futures for Brent crude on the London ICE Futures exchange to 19:00 Moscow time has decreased on 1,42% – to $49: 24 describes a barrel. The price of futures contracts for WTI crude oil for July on the new York Mercantile exchange (NYMEX) by this time dropped by 1.15% to $47,11 per barrel.

As reported, the United Arab Emirates, Bahrain, Egypt, Saudi Arabia, Yemen and the Maldives, announced the severance of diplomatic relations with Qatar because of the accusations of the authorities of the country in support of terrorist activities, including “al-Qaeda” and ISIS banned in Russia. The representatives of Qatar deny all charges. Qatar is not large producers of oil the country produced 618 thousand barrels of oil per day in April. Much great concern to the situation is the players of the gas market. In 2016, the amount exported by Qatar liquefied natural gas amounted to 77.2 million tons, accounting for almost a third of global supply.