The ruble turned up against the dollar and Euro thanks to higher oil prices


Moscow. July 14. INTERFAX.RU US Dollar fall and the Euro on the Moscow stock exchange on Friday, the ruble strengthened against the currency basket due to the increase in oil prices.

The U.S. dollar amounted to 59.6 rubles/$1 in the 15:00 GMT, 22 kopecks below the closing level of the previous trading session. While the Euro was worth 68,04 rubles/EUR1, down by 13.75 penny. The cost of the currency basket ($0.55 and EUR0,45) fell by 18.29 pennies to 63,4 ruble.

At the end of the index session of the Moscow exchange (part of the session dollar calculations “tomorrow” in the period from 10:00 p.m.-11:30 GMT) the Bank of Russia lowered the official rate of the dollar on the weekend and Monday is 30.3 cents, to 59,88 rubles/$1, and lowered the Euro 45.42 cents, to 68,36 RUB./EUR1.

According to experts of “Interfax-CEA”, the ruble has turned up after a slight morning decline precipitated the rise in oil prices. Support for the rouble has also provided training of the exporting companies to the tax period, the first payments under which are expected in the next accomplice.

Oil prices are rising standard grades on Friday and for the week amid falling stocks in the United States. As reported, oil inventories in the U.S. last week fell by 7.56 million barrels, a record pace since last September. Experts on average had expected that the report will point to a more moderate decrease in the reserves of 2.45 million barrels. September futures for Brent crude on London’s ICE Futures exchange by 15:00 Moscow time has risen on 0,76% – to $48.79 a barrel. Quotes of WTI oil futures for August in electronic trading on the new York Mercantile exchange (NYMEX) by specified time has risen on 0,78% – to $46,36 per barrel. Since the beginning of the week Brent rose by 4.3% and WTI by 4.8%.

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