Exchange rate of the Euro fell to the lowest level since Aug 2015

The Euro on the Moscow stock exchange fell to 68,165 RUB 80 kopecks below yesterday’s closing level. In recent times below the level reached today, the Euro fell 31 August 2015, then he was 68,1 RUB.

Simultaneously, the dollar dropped to 62,2075 RUB 60,25 kopecks below the closing level on October 18.

The depreciation of the dollar and the Euro accelerated in the course of the evening sale in the background of a sharp rise in oil prices. The price of a barrel of Brent crude on the ICE stock exchange increased by approximately $0.5 after the US Department of energy announced the reduction of commercial stocks of crude oil in the country is 5.2 million barrels.

On the maximum cost of a barrel of Brent has now reached $53,13, which is 2.8% above yesterday’s closing level.

“The ruble looks expensive, but appropriate for the current level of oil prices. In the short term, the Russian currency partially protected factor tax period, however, if the oil market will begin to decline, the ruble will lose ground with a vengeance due to the destruction of the attractiveness of carry trade deals”, — says Deputy head of analytical Department of Bank “Zenith” Vladimir Evstifeev.

18:25 MSK cost of a barrel of Brent crude on the ICE futures exchange was $52,83, the dollar on the Moscow stock exchange reached 62,3325 Euro — 68,335 RUB.