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The position of the ruble is strengthening against the dollar and euro on Thursday

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The position of the ruble is strengthening against the dollar and euro on Thursday

The position of the ruble is strengthening against the dollar and euro on Thursday
July 21
12:30 2016

The US dollar and the euro slightly slipped against the ruble at the start of the trading session on the Moscow stock exchange on Thursday. The ruble strengthened the position on the background of the quotations growth at the world oil market. The first transactions on the US dollar were made within 63,6-63,7 rubles. According to the results of the first minute of the trading session its exchange rate became equal to 63.6625 rubles. The euro stood at the mark of 70.285 rubles, the currency basket amounted to 66.64 rubles.

The US dollar was consistently higher by 24.42 kopecks than the level of the current official exchange rate, the euro – by 58.83 kopecks higher than the official rate. The raw material prices have become higher at the oil market. The experts of “Interfax-CEA” express the opinion that a slight increase in the exchange rate of the ruble at the beginning of the trading session on Thursday is due to the prices growth. It comes after the earlier publication of the information on raw materials stocks at the United States market. The volume of reserves shows a decrease during nine weeks in a row. According to the US Department of Energy, oil reserves for the week that ended on 15 July fell by 2.34 million barrels. The speed of decrease in stocks of raw materials in the United States exceeded all the forecasts of experts. The consensus forecast of the experts, polled by S & P Global Platts, predicted a decrease of 1.25 million barrels. The information from the Ministry of Energy has coincided with the report of the American Petroleum Institute (API). The day before the API reported about the reduction of oil reserves in the country by 2.3 million barrels for the week.

The cost of the futures contract for Brent crude oil for September delivery on the London Stock Exchange has increased by 0.55% to $ 47.43 per barrel by the beginning of the day. September futures price for WTI crude oil during the trading session on the New York Mercantile Exchange has increased by 0.59% to $ 46.02 per barrel by this time.

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