The ruble rose against the dollar and the Euro after continuing to rise in price of oil


Moscow. July 3. INTERFAX.RU US Dollar and the Euro falls at the opening of trading on the Moscow stock exchange on Monday; the ruble strengthened against the currency basket due to the continuing rise in price of oil.

The first transactions in US dollar were in the range 58,89-58,97 RUB, in the first minutes of trading the course is made up 58,91 RUB/$1 (-17,5 penny to the previous closing). The Euro edged down to 67.2 roubles(-12 kopeks) the value of the currency basket fell by 15.03 kopecks relative to Friday’s closing level, before 62,64 of the ruble.

The dollar has been by 47.37 kopecks below the level of the current official exchange rate of the Euro – 60,72 kopecks below the official rate.

According to experts of “Interfax, ruble rises against the dollar and the Euro due to the increase in oil prices, which continues for the eighth consecutive session. Investors continue to win back the reaction to Friday’s data on the reduction in the number of active operated drilling rigs in the United States. According to Baker Hughes, the number of oil rigs in operation in the U.S. declined by two, to 756. The decrease for the first 24 weeks and the second since the beginning of this year. However, reports of increased oil production in Libya to a maximum of four years – more than 1 million barrels a day to inhibit the growth of the oil market.

Price of the September futures for Brent crude on London’s ICE Futures exchange at 10:01 Moscow time has risen on 0,19% – to $from 48.94 per barrel. Crude oil with August delivery in electronic trading on the new York Mercantile exchange (NYMEX) rose by 0.41% to $46,21 per barrel. Last Friday Brent crude rose by 2.39% to $48,77 per barrel, WTI – on 2,47%, to $46,04 per barrel. By the end of June Brent crude fell by 4.8%, WTI – by 4.7%, for the second quarter, the decline was respectively 9.3% and 9%.

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