Moscow. 10 Nov. The dollar and the Euro rising on the Moscow exchange in the evening hours of Thursday, the ruble is losing ground amid falling oil and the ensuing down global equity markets.
So, the price of trades on us dollar on Thursday evening reached 65 rubles (+1,11 rubles), which corresponds to September 20. The Euro rose to 70.6 ruble (+0.83 ruble). The cost of the currency basket ($0.55 and EUR0,45) rose by 0.98 ruble to 67,51 of the ruble.
The ruble grew against the dollar and the Euro from the first minutes of trading Thursday on the Moscow exchange, supported by rising oil prices and the rise in the capital markets after the presidential elections in the United States. However, in the evening the situation on the world markets began to deteriorate, with the price of oil went down, which negatively affected the dynamics of the Russian ruble.
Oil prices moved to a sharp decrease in trading on Thursday, traders ‘ attention has shifted to the evaluation of the consequences of electing Donald trump President of the United States at the upcoming meeting of the OPEC States. The price of January futures for Brent crude on the London ICE Futures exchange to 19:04 in Moscow fell by 0.95% to $45,92 per barrel. The price of the December futures contracts of WTI crude oil during trading on the new York Mercantile exchange (NYMEX) decreased by this time by 1.24% to $of 44.71 per barrel.
The weakening of the market was facilitated by data from the International energy Agency (IEA) reporting the increase of oil production by OPEC in October to record levels. Oil production by OPEC States last month increased by 230 thousand barrels per day (b/d) – to record 33 to 83 million b/d, said in its monthly report the IEA. Thus, the organization is discussing the possibility of reducing production to 32.5-33 million b/d, far from the target of extraction. Representatives of OPEC countries will hold a regular meeting in Vienna on November 30 for approval of the plan of reduction of production developed in the course of the Algiers meeting in September.