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The ruble is moderately growing at the opening of trading

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The ruble is moderately growing at the opening of trading

The ruble is moderately growing at the opening of trading
July 07
10:30 2016

The US dollar and the euro slightly fell against the ruble at the beginning of the trading session at the Moscow stock exchange on Thursday. The ruble is slightly strengthening against the currency basket, compensating the positive oil price rebound.

The first transactions on the US dollar were within 64,16-64,24 rubles at the Moscow stock exchange. According to the results of the first minute of the trading session the exchange rate was equal to 64.1675 rubles that is 4 kopecks below the previous closing mark. The euro exchange rate amounted to 71.07 rubles (-22,25 kopecks); the currency basket was worth 67.27 rubles (-12 kopecks).

Herewith, at the same time the dollar was by 46.3 kopecks below the current official exchange rate, the euro – by 44.35 kopecks below the official rate. According to the analysts of Interfax-CEA, the ruble growth at the start of Thursday’s trading was due to the positive rebound of oil prices that occurred after the information of the American Petroleum Institute about the reduction in the US crude oil supply by 6.7 million barrels last week. The official data on the US commodity stocks will be released on Thursday, a day later than usual. Market participants expect that this index will fall, too. At the London Stock Exchange the price of the September futures contract for Brent crude oil has grown by 0,35% – to $ 48,97 per barrel to the beginning of the day. The cost of futures contracts for WTI crude oil for August has risen by 0.46% – to $ 47.65 per barrel during trading at the New York Mercantile Exchange.

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