Ruble played drop Tuesday amid rising oil

Moscow. October 28. The US dollar and the Euro are significantly reduced on “Moscow exchange” on Wednesday evening amid rising oil and the increased demand for ruble liquidity; the Russian currency strengthened as a result of the fall of the previous day.

The dollar exchange rate was 63.7 rubles/$1 at 19:00 on “Moscow exchange”, which is 1.2 rubles below the closing level of the previous trading session. The Euro at this point amounted 70,50 rubles/EUR1, having receded by 1.13 ruble. The value of the currency basket ($0.55 and EUR0,45) fell by 1.17 ruble to ruble 66,76.

The ruble fell against the dollar and the Euro in early trading on the “Moscow exchange” on Wednesday, continuing losses of the previous days, due to a reduction in oil prices. The dollar rose to 65,522 rubles/$1, the exchange rate of Euro to 72.4 rubles/EUR1. Both currencies have updated the highs around 3 weeks. On Tuesday, the us dollar by the end of the day, gained 1.88 per ruble, Euro – ruble 1.97.

On Wednesday afternoon, both currencies leveled and growth has turned to decline, retreating by 1-1. 5 rubles from the highs achieved in the second half of the day the fall of the dollar and the Euro has accelerated and in the course of trading reached for 2 rubles against the day’s highs.

The growth of the ruble contributed to a reversal to higher prices of oil, which reacted positively to the publication of data about reduction of stocks of oil products in the USA by the end of last week. December futures for Brent crude on London’s ICE Futures exchange to 19:03 Moscow time has risen in price by 4.6% to $48,97 per barrel. Quotes of WTI oil futures for December trading on the new York Mercantile exchange (NYMEX) to a specified time has grown on 5,7% – to $45,67 per barrel.

According to the U.S. Department of energy, distillate inventories last week fell by 3 million barrels, gasoline – by 1.1 million barrels. However, the oil reserves in the U.S. last week rose to 3.38 million barrels. Analysts polled by Bloomberg, expected growth by 3.5 million barrels. Workload refineries in the country increased from 86.4 percent to 87.6%.