The ruble fell against the dollar and Euro at market opening


Moscow. July 6. INTERFAX.RU US Dollar and the Euro are rising at the opening of trading on the Moscow stock exchange on Thursday; the ruble falls against the currency basket in connection with a reduction of interest in the carry trade.

The first transactions in US dollar were in the range 60,07-of 60.16 rubles/$1, in the first minutes of trading course made up of 60.14 RUB/$1 (+15,75 penny to the previous closing). Euro climbs to 68,19 rubles/EUR1 (+12.5 cents), the value of the currency basket rose by 14.29 kopecks relative to Wednesday’s closing level, before 63,76 of the ruble.

The dollar has been on 56,13 penny above the level of the current official exchange rate of the Euro – 51,46 kopecks above the official rate.

According to experts of “Interfax-CEA”, the ruble falls against the dollar and Euro in connection with a reduction of the interest of market participants to carry trade operations, as well as preparation for dividend payments. Oil prices rising on Thursday after a sharp fall at the end of the previous session, which became the highest for the month. The cost of the September futures for Brent crude on London’s ICE Futures exchange at 10:01 MSK rose by 1.17% to $48.35 a barrel. By the close of market on Wednesday, futures fell $1,82 (3,67%) – to $47.79 per barrel. Futures price for WTI crude oil for August in electronic trading on the new York Mercantile exchange (NYMEX) has increased by this time, also by 1.17% to $45,66 per barrel. For the WTI price to drop on Wednesday was the first after eight sessions of growth – the longest period of sustained growth since 2010. On Tuesday, when Brent ended the session weak decline, WTI trades were not held due to a holiday in the United States.

The fall in oil prices on Wednesday helped the increase of production in the OPEC countries, as well as information about the fact that Russia is not ready to go on to further production cuts, writes MarketWatch.

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