Euro soared above 78 rubles

Euro soared above 78 rubles

Moscow. December 14. The US dollar is higher than in the auction of the Moscow stock exchange the mark of 71 rubles for the first time since 24 August, the Euro exceeded the level of 78 rubles for the first time since August 26 on the ongoing fall of oil.

15:49 Moscow time the dollar was worth 71,089 of the ruble, which is 72.7 copecks above level of closing of previous trading day. The Euro to this point was worth 78,002 ruble, rising 60.2 penny. The value of the currency basket ($0.55 and EUR0,45) rose by 67 cents to 74.2 ruble.

According to experts of “Interfax-CEA”, the major cause of the continued decline in the exchange rate of the ruble against the dollar and the Euro is the new wave of the fall in world oil prices because of fears of preserving the imbalance of demand and supply of “black gold” on the market next year.

In the course of trading on Monday, the nearest contract for Brent fell below $37 a barrel for the first time since the end of 2008, WTI – below $35 per barrel, to its lowest level since 19 February 2009. Iran has confirmed the intention to increase oil exports that heightened concerns about the overproduction of fuel.

Quote of the January futures for Brent crude on London’s ICE Futures exchange to 15:49 MSK fell on 3,53% – to $36,59 per barrel. Bidding on this contract end on Wednesday, December 16. Futures price for WTI crude oil for January in electronic trading on the new York Mercantile exchange (NYMEX) fell on Monday afternoon on 2,55% – to $34,71 per barrel. Last week, the WTI price collapsed almost 11%, Brent – 11.8%, showing maximum fall in the current year.