Moscow. On 25 January. Dollar and Euro considerably decreased on the Moscow stock exchange at the opening of trading on Monday, the ruble is growing the second auction in a row, reflecting the rise in prices of oil. The Russian currency rose to a 10-day high.
Bidding on the dollar began on Monday with transactions in a wide range – 76,39-77.5 ruble, on average over fifteen minutes the rate was 76,71 ruble (RUB -1,31 to its previous close). Amounted to euros in early trading on average 82,99 ruble (RUB -1,25). The bi-currency basket amounted 79,535 ruble (RUB -1,29).
The dollar exchange rate was 3.86 rubles. below the current official rate of Euro on 4,24 rbl. below the current exchange rate of the CBRF. Quotes for both currencies fell to its lowest level in about 10 days.
Continuing the second auction in a row the rapid growth of the ruble experts “Interfax-CEA” explain the reaction to the surge in world oil prices and improved sentiment in the capital markets.
Oil prices continued Monday’s rally amid snow storms in the USA, as well as reducing market expectations of further fall in the cost of raw materials. The price of the March contract for Brent crude on London’s ICE Futures exchange at 10:00 MSK rose almost 1% to $32,49 per barrel.
