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On Monday the ruble has fallen against the euro and dollar at the beginning of the session

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On Monday the ruble has fallen against the euro and dollar at the beginning of the session

On Monday the ruble has fallen against the euro and dollar at the beginning of the session
September 12
12:30 2016

At the start of the trading session on Monday the US dollar and the euro have jumped at the Moscow stock exchange. The ruble has backed off due to the general downturn of the global capital markets and the decline of oil as well.

On Monday the Moscow stock exchange started the trading on the US dollar with the transactions within 64,86-65,05 rubles. According to the results of the first minute of the trade the rate has become equal to 65.02 rubles. The euro has become equal to 73.1475 rubles. The currency basket has increased up to 68.677 rubles.

At the same time the US currency has been 85.83 kopecks higher than the current official exchange rate. The euro has been higher than the official exchange rate by 81.16 kopecks.

According to analysts of “Interfax”, the negative price fluctuations of the world capital markets, including oil prices, help to reduce the ruble against the US and the European currency at the beginning of the session on Monday, 12 September.

Oil is increasing again. Thus, it is showing a response to the data on the new growth in the amount of oil drilling rigs in the United States.

On the London Stock Exchange Brent oil futures for November have fallen by 1.4% to $ 47.34 per barrel to the beginning of the day. By this time prices for the October futures contract for WTI crude oil have decreased by 1.63% – to $ 45.13 per barrel on the electronic trading on the New York Mercantile Exchange.

Oil quotes have been fluctuating approximately in the region of $ 40-50 per barrel for six months. The prevailing number of market participants is hoping that this trend will continue until the end of this year.

According to The Wall Street Journal, the conditional stability of the market indicates that the producers of shale oil in the US, who organized the overproduction of raw materials in 2014, have transformed the dynamics of the market. The ability of these manufactures to quickly slow down and then start the production has given the market the opportunity to achieve stability due to the current reduced level of prices.

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